You are not alone in your real estate ambition.

You are not alone in your real estate ambition.

Keep up the ambition you are on to something big!!!  

I have been building relationships with friends and colleagues by just letting them know of the ambitions with real estate.I am pursuing that education with some vigor, thanks.

@Matthew DrouinThat is a great position to be in.Now with regards to the refinancing options and how much you should take out, I'd say it depends on what your plans are.If you are planning on holding onto to that rental for the foreseeable future, you should stress test that property to figure out how much minimum income it needs to generate each month to meet your mortgage payments.That monthly would dictate how much you can conservatively take out after refinancing (and providing that you lender is OK with that too) without exposing yourself.Now if you have other deals that you want to pursue and you need as much cash as you can lay your hands on, you should take out as much as your lender would allow you to.Personally, I'd go for the option 1, especially if you have the  ambition is build a sound rental portfolio.

@Michael Gessner, what, no ambition to get your business to Mars?

I didn't have any real estate ambitions beyond renting out my first home, but when researching the rental process earlier this year I came across the Bigger Pockets website...

It also takes a lot of guts to put yourself and your ambitions out here on the forum.

While living for "free" is a great ambition, you may need to set your sights on living at a discount instead with this first one.

I think I’ve done pretty well for myself but additional contacts, ideas, and like minded individuals are only going to elevate my lofty goals and ambitions.