No More Cash Out Refinance On Investment Property?

[Mark Schumacher]

My family’s had 3 rentals for about 15 years. They all now have 70-80% equity in them. My mentors back in the day used to do a cash out refi on an investment property with high equity and purchase more so I just started exploring that option but the mortgage broker I’ve used before just told me you can’t do cash out refi on investment property anymore. Is this accurate? If so, what are other ways to tap into that equity? Heloc or 1031? Thanks!