looking to buy more rental properties

[Joe Peterson]

I own 6 properties and currently 3 are mortgage free, local bank offers 4.5 percent on investment loans, going to close next month on next property and going to leverage a rental property for down pmt I've had people recommend to get as much cash out at closing to use possibly on another property purchase has anyone else done this? I don't want to over extend my bank is 75%loan to value so there is a safety net there ..... I have sat down pencil and paper and figured out exactly all costs , just leveraging my remaining properties is a little scary.... I would keep at least one mortgage free. Thoughts?