All Forum Posts by: Jonathan Kincaid

Greetings. My name is Jonathan Kincaid. I'm new to BP. I am a hold/rent investor of SFH/Duplexes with portfolios in Hollywood & Clearwater FL. I seek to network/build relationships to move up into commercial multi-family acquisitions. Additionally, I seek to mentor new investors who would like to learn to build a profitable portfolio of passive income with SFH or small multi-family. Is anyone able to recommend a Florida based CPA who specializes in working the real-estate investors?

I just spoke with my mortgage broker, as I am considering a cash-out REFI on a Hollywood duplex.  While it is tempting to sell high (or cash out REFI) in this market, the new interest rate (high 5's) that would accompany a cash-out REFI is a bit unsettling.   My broker reminded me that we've been spoiled with interest rates in the last 8 years.  I purchased this property with a 3.75 interest rate 5 years ago.  Historically, interest rates have been as high as 18%.  So, perhaps the hike from 3.75 to 5.75 is relatively small, if I could capitalize on a 70K Cash out on a property I bought 5 years ago, and re-invest the capital in another asset where the numbers work.

What are your thoughts on cashing out right now (capitalizing on high property prices) vs the high interest rate that comes along with it?