Using Cash out refi on primary home to fund investment properties

[John Anderson]

Hi all,

I currently have two small investment properties on which I have a mortgage at 4.5-5%. Rather than try to beat my head against a wall by trying to find deals in this crazy market, I am considering refinancing my primary residence @ 2.75% and using the proceeds to pay off these loans and lower my monthly payment.

Are there any issues with this approach, or warnings that a more seasoned investor would have for someone in my situation? Thanks!