Should I do a Cash Out Re-fi?

[James Purvis]

I have two single family rental properties paid off and I want to go bigger and get into multi-family and am wondering if doing a cash out re-fi is the best way to go for the down payment? 

[Greg Scully]

@James Purvis - Keep in mind that you get zero return on equity. 

Conservatively held debt for business purposes is how wealth is created.  I refinanced my personal residence from a 15 year to a 30 year to invest the tied up equity.  It also lowered my payment.