Need opinions I'm new to realestate

[Natashia E Morales]

hey all. so my plan is to refi my townhouse to bring my mortgage back down to 30 yr loan at a better interest rate, take the cash out to put down on a bigger home for my growing family, then rent out my townhouse to cover the mortgage, taxes, HOA. thoughts on my plan...yay or nay....

[Natashia E Morales]

@Arlan Potter that's basically what I'm trying to setup and do for myself. I'm not trying to buy a mansion just a bigger home for our growing family. we currently have a 2 bedroom townhouse in NY. I can refi this plc and rent out for $2350 leaving me $250 of cash flow after the Bill's for that plc is paid. take the cash out I get for the refi on it and buy a more sizable home for our 3 kids with a back yard. Then take a home equity line of credit to buy another rental property and so on. that's what I was thinking of doing. I'm trying to be realist in NYS. things are wayyy more expensive here than in most states.