All Forum Posts by: Richard Camacho

@Richard Camacho - I would likely do a cash out refinance, but only to the limit where I'm still getting solid cash flow with the new interest rates.  

Hello @Richard Camacho and welcome! So you have just under $100k in equity in your current property? I would say that refinance is a great idea as long as the numbers work! Would this home that you have currently rent for enough to pay the mortgage, taxes, insurance, and any holdings such as vacancy, capital expenditure, maintenance, and property management? If so then I would refinance into a conventional mortgage at roughly the 70% LTV mark. I would then take that left over money (around $59k with the property value at $120k) and then sink that into another property so that you can continue your growth. Interest for homes is high right now but you should be able to get a better rate than 9% as well as if it cashflows, then you're golden! I would use the BP calculators on here and see what ya got! Good luck!