$100K+ in equity on a 2% mortgage

[Trerynor Tetik]

I have a $115 loan at 2.25% on a 15 year note. The home is valued around $300k. I’m tempted to do a cash out refi. I can cash out refi $100k to a 30 year at 7% but lose cash flow and break even. I want to reinvest the $100K but I’d hate to loose a 2% loan and cashflow. Any advice? 

[Rick Pozos]

Your blended rate would be about 4.75ish. Thats not bad either, and you have 100k in your hand. If you can buy a house for that 100k cash it should cash flow enough for both of the properties.

OR live well below your means and save $500 to 1000 or more per month. Save all the cashflow from the rental and within a year or so you will have enough to purchase another home with 20% down.