Do we Sell? Refi? or What? Need cash for great next project

[Aaron Ward]

Have a great multi family project lined up as 3rd property but to work out how to pull some cash to pay for it. What should we do?

Back in 2018 we bought our first rental property - a 3bed/2bath SFH in Dallas/Fort Worth for $139k (20% down). Current valuation put the property at ~$205k. Early last year we refinanced to lower our mortgage rate from 5.5% to 3% (did not take any cash out) and now we have a loan balance of ~$105k. The property is performing quite well and we have a true cashflow of ~$230/month and has some room to move on rental rate

Last year we also bought our first multi family property - a 7 unit in Japan. We bought this property for ~$670k USD. This place is basically just getting going.

We have the opportunity to buy another similar multi fam in Japan. Basically we need ~$100k to get the thing done. We have some cash but not a huge amount

Should we sell the Dallas/Fort Worth property? Should we refinance and pull out some equity? Or what other ideas could we use to get funds together to make this new deal happen?

Thanks in advance for your ideas