Refinancing Investment Property

[Sandhya Gorman]

I started looking into refinancing the mortgages on my investment properties- no cash out refinancing given that interest rates are low; my interest rates are b/t 4.75-5.25%.  It seems that closing costs are too prohibitive.  I'll save ~$150-200 dollars per month at a cost of nearly $6000.  Doesn't seem worth it.  Am I missing something?  I'd love to hear some perspective from this forum.