Should I pay off mortgage after refinancing?

1 Reply

If I wanted to use the BRRRR method of investing, would it be a good idea to eventually pay off the new mortgage after I receive the cash from a cash out refinance?

If I get the cash and put it towards a down payment on another property, then I would not need to keep the previous mortgage around right?

@India Piersaul

After you cash out, you would be paying the mortgage off over the term. There would be no need to pay it off faster. Personally, I would recommend instead taking that extra cash and saving it for another down payment.