I have saved up a very nice safety net for repairs which is at about 7.5kMy RE agent buddy did a comp for me last week as I was thinking about refinancing and getting some equity out for a new investment and it came in at around 90-100k.However with a cash out refi I can only go up to 75% of ARV..so after all is said and done the payment would drop to around 510 on a new 30 yr and all the cost of business would eat up most of my cash out leaving me with a little under 5k......ugggh I feel like that 30k of equity is just trapped and don't know what to do.I still need one more year of landlord experience to move on to bigger abd better things, so selling this year seems out of the question.Do I just leave well enough alone for the moment?

I am not a member, think my buddy is but i am not sure. 

@Cliff JacksonWelcome.I have buddies in PA buying houses for$500-2,500 each through the county tax repository sales.Check out the Start Here page http://www.biggerpockets.com/starthereCheck out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.

Eventually some of Toms wealthy friends and golf buddies became investors and we went from not just real estate investors but to developers who built everything from shopping centers to apartment complexes and nursing homes but we were always real estate investors at heart.

Happy Birthday Buddy!

I do not have a licensed broker on staff, but I do have a buddy working at ReMax and he said I could use that as my broker and be within the law.

My buddy just sold his Studio City Multi to do some NNN.

If my buddy asked me what he should do, I would say get at least $1000 a month in rent to make it worthwhile and have a tenant quality you can bank on.

Is this a common sales practice or usually inside deals where the builder cut it with their buddies and generally not accessible to joe public?

A buddy of mine lists REO properties in Tampa and told me those companies all make non-contingent, quick close offers.