Investor · Saint Paul, MN · Member since 2015 · 98 posts · 64 votes
Curious how many times (assuming more than one) do you cash out refi the same property? As the third "r" yes, but then what if it appreciates significantly in two years....refi again? As long as it cash flows?
Curious how many times (assuming more than one) do you cash out refi the same property? As the third "r" yes, but then what if it appreciates significantly in two years....refi again? As long as it cash flows?
You have to set a strategy first to know what you want to do with your properties. I cash flow mine, so as long as I can get $300 a month or better ongoing cash flow, I'm okay with taking out some cash as often as I can maintain that. But keep in mind, whenever you refinance, you incur costs and risk. There is a rumor out there that property values can't go up forever. I am not smart enough to know when the market will "correct" so I want to maintain a buffer. I've gone up and down with the market since the 90's and having the buffer on each of the properties made all the difference.