Questions regarding Smith Manoeuvre

[Steven Mojsej]

I'm looking to pick the brain of a Canadian banker / real estate investors whom are familiar with the Smith Manoeuvre in using it to buy rental properties. Would anyone be kind enough to spare me a little time with regards to answering my questions?

I am coming close to my the end of my first 5 years in my property and my first 5 year term coming to a close in the next year. I am looking to using some of the equity in my property to purchase a rental. I am debating between doing a cash out refinance and using some of the equity that I pull out or possibly doing something slightly more complex in the Smith Manoeuvre. I have been studying this manoeuvre for the last couple weeks trying to gather as much information with regards to it that I can.

Is there anyone in this community that has used the SM to buy a rental property that I could pick your brain on?