Cash out refi on investment property.
Right now I own 12 single family homes in the Cleveland market all financed between 4-5% with most of them on a 30 year term and 2 of them on 20.... All of them cash flow between $200-$450/ month.
With my current business income I am able to purchase about 3 properties a year. Because I am young (27) and have time on my side - I feel pulling some equity out to accelerate my business might be a good way to go.
I know everyone has different levels of risk tolerance butI want to get some BP member thoughts about doing a cash out refi on investment properties before I make a decision.
Pros/Cons?