Mortgage or Refinance property? What move to make
Hello everyone,
I need some advice as to how to proceed in my investment quest. I currently have 4 mortgages. I been saving up for awhile now... I been able to saved approximately $50k.
I thought of investing half and half into two properties. However, I got an offer to buy an all cash property for that amount.
If I purchase an all cash property, would it be wise to buy it, refinance it and re-invest whatever I pull out of the property? I don't know if loan wise, considering I have 4 mortgages already, it might make things harder with the 5th and 6th loan.
Any advice would be greatly appreciated. Thanks in advance.