Cash-out refinance with more than 5 properties

[Daniel Mills]

Hi Guys, 

I currently own 5 rental properties and a personal residence - all have mortgages on them. One of my rental properties has increased in value by about $50-60K in the last couple of years. I wanted to do a cash out refinances, so I went to the mortgage broker where I got the original loan. He said that I can't do a cash-out refi because I own 6 mortgaged properties. He didn't mention anything about debt to income ratio, just the number of properties. I'm constantly hearing about guys on here who have 50 doors and they are pulling cash out. What am I missing? Any ideas on how to make this happen?