Updated over 3 years ago on .
Refi to purchase 3rd property?
Hello - Considering refi my current home to use that money on my next purchase but not sure if this would be the smartest decision. Seems like a high-risk opportunity. Thoughts? Nearing a recession?
1st home - House hack. Rent at 725 one room. Master for 825 and when I move out I can get 675. So a total of $2,225. --> Refi - New mortgage $2,200. Cash-out $85k. The old mortgage is $1,108.
2nd Home - Airbnb - Profit $700-$1,000
The home I could like to purchase would be around $350k and house hack again.
Or do I wait until January to claim the Airbnb income on taxes to go with an FHA loan?