I currently have 4 single family homes and I am thinking if I should refinance to get a better interest rate.
First property 5.4% loan $114,000
Second property 5.5% loan $115,00
third Property 5.4% loan $85,00
Fourth property 5.6% $116,000
My plan is to keep my rentals long term and do not plan on paying them off anytime soon and they are currently cash flowing about $275 after expenses are paid. Should I start refinancing? Any tips and advice will be appreciated. thank you :)
If you can access to dead equity by doing the refi and acquire a 5th property, I'd say go for it.