Specialist · Member since 2025 · 483 posts · 270 votes
10mo
Good problem to have. Pick the path that best serves your next 12–24 months: if you want scale, refi or HELOC, leave some equity in to keep payments sane, and recycle into deals that already pencil at today's rates with two exits refi or sell; if you want max cash flow and less risk, sell the weakest performer, 1031 into a better asset, and avoid doubling closing costs from refis. Run a simple test on each property: today's refi payment vs current rent, total costs to pull cash, and what that cash earns in a new deal; if the new yield beats the hold by a clear margin with contingency, recycle, if not, hold and wait for better terms.