Newbie in Denver Metro

[Brad Babcock]

I am struggling with my launching off point. My current situation is a have 70% equity in my principal residence and I'm looking to do a cash-out refi to fund investment purchases. Does it make sense 2 cash out refi up to 80% loan to value if the mortgage plus expenses exceeds the rental income on that property? My original intent is to take the proceeds of the cash out refi and deploy them to a new residence and additional rental properties, and rent out my current residence. I am second guessing this strategy and wonder if it makes more sense and is less risky to take the proceeds from the cash out refi and just buy investment properties with that cash and remain in my current principal residence? I am in my early forties with 2 middle school-age children.

Thanks for your time!

Brad

[Dan Mackin]

I would only advise moving if it makes sense for your family. If it will cause too much strain then it may be best to stay in your primary and buy the other properties directly as rentals. Do you know if you qualify to do that in terms of income?