second property........

[Jeff Smith]

bought my first rental property last year, paid cash for the property $24,000.....renting it out for $700 a month,,,,,just purchased my second property for $11,500 (cash)....renting it out for 525 a month....my question is i want to buy more property's but im out of cash what would be the best way of getting money out of one of these houses to buy another?

[Michael Rossi]

Jeff,

Assuming that your credit is good, you could certainly refi one or both of these properties to get your cash back out. Just be sure not to take out so much that the properties won't cash flow properly!

Good Luck,

Mike