Cash out refi to buy new rental?

[Denise Johnson]

I'm new to the community and am interested in your opinion!  I bought a primary property in 2022, which was purchased to house hack. I am now interested in purchasing another rental.  The property currently has about 60k in equity.  Would you suggest refinancing or saving to purchase my second property?

[Wade Woo]

Quote from @Denise Johnson:

I'm new to the community and am interested in your opinion!  I bought a primary property in 2022, which was purchased to house hack. I am now interested in purchasing another rental.  The property currently has about 60k in equity.  Would you suggest refinancing or saving to purchase my second property?

 I would suggest taking out what's called a home equity line of credit and use it to invest in more real estate but make sure that you have a mentor that has done at least 100 times what you are planning to do and follow a strategy that works for you. DM me if you need help finding one.