I am a fairly new investor still learning the ropes. I currently have a single family home renting which I am looking to refinance to take advantage of the lower mortgage rates. My thought process is I would be able to lower my mortgage payments which could provide a little more cash flow for this property. I also have about 60K in equity within the property which I am seeking advice if I should take advantage of that and utilize it towards purchasing my second property, a condo or multi-family. Thanks in Advance!
I am working on my second rental property utilizing the equity I have in my first property. I'm not waiting for a crash to happen again like 2008, I want to take advantage of the low interest rates.