Refinance loan amount strategy help. how much after BRRR?
So I have a BRRR house that I purchase with cash, renovated and placed tenants. The seasoning period has passed and I am in process to begin cash out refinance. All in for 195k. My two options are to cash out refi for 136.5k ($7115 cashflow) or 160k ($5600 cashflow). I self manage so I dont have any PM fees that would reduce the cashflow further. I would ideally like to have more money for further investment, but dont know if I am unnecessarily hurting cashflow in favor of just hoarding cash for future rental acquisitions. The cashflow is nice but the cash for other investment also is alluring. Does anyone see these differently or have a different perspective. Just not sure of how others evaluate their BRRR cash out and how they might bring perspective. I'm not near retirement for another 20 years but early retirement using rental cashflow might be nice:)