Where to Invest Cash from Refi???

[Will R.]

Hi there!

I am new to the BP forum and this is my first ever post. That said, I've been listening to the podcast daily for about 6 months :) 

My wife and I bought a home in San Diego about six months ago. The market here is absolutely nuts, and we recently had an appraiser tell us it has gone up about $100K in value. Not bad from an ROI, perspective, but don't think that's very scalable. Lol.

We are considering a cash out refi and reinvesting ~$100K, but we are new to BP and don't know where/how to invest it in a semi-safe way! Our mortgage would increase by ~$500/mo, and it seems like most properties we could afford would BARELY beat that from a cash flows perspective. Factoring in maintenance and property management, it seems like single family investment properties is probably not the way to go.

Please help! I am super eager to learn more about this lovely world. I bought like 6 BP books off Amazon last week and have been avidly going through them all. Absolutely open to investing in markets outside of San Diego and non-single family methods.

Thanks in advance!!!