Private Lending & Conventional Mortgage Advice

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Andrew Merritt
  • Rental Property Investor
  • Summerville, SC
27
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151
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Is It Time to Refinance or Wait?

Andrew Merritt
  • Rental Property Investor
  • Summerville, SC
Posted Jan 18 2022, 05:43

I have a couple of duplexes and a four unit that I've had for 3 or 4 years now and I'm looking at doing cash out refinances on them.  I've spoken with conventional lenders and portfolio lenders to get some good options.  I can pull out significant equity while still cashflowing them.  

I was gung ho on refinancing them immediately b/c I can see interest rates going higher very soon but I just listened to David Greene on a BP podcast that made me reconsider.  He suggested that if I don't have anything to purchase right now, it might be better to wait.  I don't have anything to purchase at the moment so maybe it's better to wait until I do.

However, I want to have enough cash available if something does come up and I want to make sure I lock in a low interest rate for the next 30 years while I still can.

What are your thoughts?  I'm in the Charleston, SC market if that makes a difference.

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