brrr cash out refi pull out all, some, or how much?
A rental property of mine is renting for $1725 and mortgage is currently $1125. We have been doing the BRRR method and are currently doing a cashout refi to buy another (nothing set in stone on the new purchase). Our appraisal came in much higher then anticipated and we can pull out up to approx. 82K. However, with that, our mortgage payment becomes closer to the $1570 range. Obviously the property we have renting for $1725 would still cash flow but not by a lot and it makes me uneasy considering we are used to flowing t. Is there a sweet spot on how much to pull out for the BRRR or are people trying to take out every penny they can? My goal is to continue to acquire rentals but ensure that they are cash flowing comfortably... I don't know what the comfortable mark it but prior cash flow has been$600 monthly. Any BRRR or experienced people please direct me or give me some insight from your experience and tell me what you would do?
-Bryan
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