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All Forum Posts by: Ruben Canales Jr

Ruben Canales Jr has started 1 posts and replied 1 times.

General Real Estate Investing

Post: Should I refinance/cash out my primary residence to purchase a 4 plex?

Ruben Canales JrPosted
  • Posts 1
  • Votes 2

Greetings!

I have a primary mortgage ($195k) and to be paid off in 8 yrs.  I'm interested in refinancing/cash out $200k for a down payment for a four plex.  The 4plex is selling for $999k and cash flows $3k.  If I do the refinance, I will have two 30 yr mortgages.  Is this a worth while real estate investment strategy and opportunity?

Ruben Canales

2 Votes
San Luis Obispo, California