Here are some strategies to help you expand your portfolio and step up your game:- Look into Refinancing Your Existing Loans: With a mix of interest rates on your current loans, you might benefit from refinancing.

There is an exception that allows a VA loan to be refinanced into a conventional loan one time maximum. 

I have this idea floating around to build an extension on the property or a separate ADU and finance it myself prior to refinancing, but that might be a bold move this early on in my REI career. 

I was thinking I'd give him an extra $1000 cash when we're all refinanced.

We totally get the premise behind the Brrr method but at the same time, if you can utilize the same cash principle to buy a bigger, better rental house that will appreciate well over time due to location, wouldn't it also make sense to consider using the cash house equity for this bigger location house to be refinanced later at a lower rate and take the equity out of the better location house then and use the equity later?  

Has anyone offered all cash then immediately refinanced to get the cash out? 

@Tyler, when individually appropriate, for investors who have a need for immediate cash, we've also refinanced the property modestly (20-30% LTV) to provide mom/dad with the cash to bridge the two-year gap. 

@Tom DieringerI've not used HELOCs, so it's possible that my answer won't correlate, but we've refinanced properties and used cash out to fund new purchases. 

Depending on how much of a discount you are buying the property at, it might make more sense to just wait the 90 days that most lenders want you to own it before refinancing it, in order to get your basis in the property as low as possible. 

Angela, refinancing your property at the current lower rate (Today's 15yr fixed purchase rate: 6.8% APR) can fund a down payment for another property, enhancing your portfolio.