Good time to Cash out refinance?

[Kumar Gaurav]

Hello

Is this a good time to Cash out refinance?

My situation,I am on a 30 year conventional mortgage loan at 3.5 rate of interest on my multi family home that I bought for 750k.

with 20% down.

Its been a little over two years since I bought my owner occupied triplex and all the units are currently occupied.

Is this a good time to Cash out refinance?

Appreciate your input .I was actually considering selling and doing a 1031 exchange

Prior to covid-19 looks like I may have to hold few more years.

Please advise

Thanks