You could also do a simultaneous closing of a fixed first mortgage as a ‘cash out’ refinance and piggyback a new investment property heloc for future use..although the heloc rate will be stronger on the primary.

We have numerous products in New York for 30 year fixed rates on 5+ units, would love to get on a call to see how my team and I can assist you.

Rates are a bit high at the moment but try to get something without a prepayment penalty and then refinance in a couple years when hopefully rates are lower.

NBT Bank had/has a promotional 6.5% commercial rate they were advertising this month. 

If you are already up into the higher brackets, then it won't make sense to take a bit out every year since it will be taxed at the same marginal rate...Can't easily negate the tax obligations... 

Home loan borrowing costs eased again for the third straight week as the average rate on a 30 year home loan declined to its lowest level since April. 

The current loan balance is $235k with a 5.12% interest rate.

There are multiple billboards spread across the surrounding counties and advertisements everywhere.

Sellers are responsive to mortgage rate declines and lower rates could further boost listings later this year. 

They are building new fourplex units and advertising compelling cap rates in their pro formas.