This is so vague, it is impossible to provide you any valuable feedback. What is a decent amount of equity? What higher rate will you have for your investment purchase. How will you turn the equity into cash? What area will you invest? What type of strategy do you wish to engage in?
If you can borrow at sub 3% and invest in something that turns a positive cash flow profit without extreme risks, then certainly. But you have a lot to figure out first it appears. On top of that, what knowledge and skills do you currently possess?
This is so vague, it is impossible to provide you any valuable feedback. What is a decent amount of equity? What higher rate will you have for your investment purchase. How will you turn the equity into cash? What area will you invest? What type of strategy do you wish to engage in?
If you can borrow at sub 3% and invest in something that turns a positive cash flow profit without extreme risks, then certainly. But you have a lot to figure out first it appears. On top of that, what knowledge and skills do you currently possess?
Based on the info provided, you might just as well ask us, "if you walked in the next doorway, do we think you could breath"? Questions: 1 - Rent = $ 2 - Monthly expenses = $ 3 - Current monthly pmt = $ 4 - Complete terms on existing loan: Years amort. = #; int = % 5 - Purchase price = $ 6 - Original down payment = $ 7 - Property value now = $ If you refi: 8 - Amount refi based on appraisal = % of property value 9 - new terms in years = # 10 - Plans of what to do with cash out from refi, if there is any cash to take out = ?
@Will Barnard thank you. I have like 250k on equity. I wanted to refi and invest on LTR or str. I am also thinking to get Heloc instead of refi to see if i can buy cash flow properties. I am a new bee in investing. I have one Airbnb property. Thanks