Should I refinance/cash out my primary residence to purchase a 4 plex?
Greetings!
I have a primary mortgage ($195k) and to be paid off in 8 yrs. I'm interested in refinancing/cash out $200k for a down payment for a four plex. The 4plex is selling for $999k and cash flows $3k. If I do the refinance, I will have two 30 yr mortgages. Is this a worth while real estate investment strategy and opportunity?
Ruben Canales