@Mark McGuire I would think through whether you really "need" that 18k back. 18k is not that much in the grand scheme of things, and the cost to do a re-fi to get access to that capital would probably be around 4k or so.

@Karen F. I

I used FirstUnited for my re-fi who was great and I did not use a local agent but do plan to on my next deal in this market!

I used FirstUnited for my re-fi who was great and I did not use a local agent but do plan to on my next deal in this market!

:) While I did leave $30k in the home after the re-fi, it would be almost impossible to find a house this nice for that much and still cash-flow $600+/month.

We’re in Phoenix/Scottsdale area and I had the idea of killing two birds with one stone, mainly to wet my wife’s appetite for money, income, and FI.

PS one of my very short stints was attempting to sell dental equipment door to door.. you know high speed drills low speed and delivery systems and chairs and lights etc.. sit down dentistry was just starting to take off.. turned out Dentist before that had a huge problem with back aches.I worked with a start up called healthkit.. they had a delivery system way ahead of its time.. it was all numatic and was used in the military because the holder of the drills was solid aluminum block 2 X 2 X 6  with no moving parts.. unlike in those days the ones that looked like something out of a sci fi movie and would break all the time.. but of course ours was the most expensive and well .. being that and being the industry was very difficult to sell.

I could do HELOC or cash-out re-fi, but that would eat my cash flow.

Hi ToreyOn average, you can find MF in a wide range of cap rates, it really depends on the property, where it is located, deferred maint issues, and even number of units - there are lots of four plexes at 4% whereas you can fi d apt buildings at 7 to 7.5%.  

I don't think I should do a re-fi and take out the money because there will be phases of this construction project, so I wanted to take out the money when the construction payment is due.