Hello I'm new to bigger pockets and new for the most part to real estate investing. I'm married with 2 sons. My real estate goals are so I can retire early. I'm an aircraft mechanic by trade and have a great retirement through my job but I don't want to work the next 40 years to enjoy 20 years of retirement. Hopefully I'm on the right sub forum for my questions. I'll try to make this structured and not to confusing.
My first property I got by rent to own in 2014 still currently 2 years from having it paid off. I moved out of it 2 years ago and bought my second house with a conventional loan.
When I moved out of my rent to own house. I was able to put a tenant in and they have been living there paying the mortgage down for me. I just now learned about the brrrr strategy and I'm looking at refinancing my rent to own house to buy another property.
I have enough cash on hand to pay the house off entirely but wanted to know if I should do that or just do a cash out refinance and pay off the original owners through that method. The house was completely renovated prior to me moving in and the original owners gave me a great deal on it.
Second question when refinancing do you use the banks appraiser to do the cash out refinance or higher your own?
Thanks for any input just trying to learn the best I can.
