Refinance Rental property before or after buying a second?

[Freddy Hernandez]

Hey Guys,

Pretty new to this page and to rental property management in general. I purchased by first rental property about 2 years ago and have been renting it for just about 18 months. I've educated myself as much as I can on how to make it more profitable and how to set myself up for smooth transition into a second rental property. However, because I was fairly young and did not have much of a credit history at the time of the purchase, the interest rate on my current property is not great so I would like to refinance. Before going to a real estate agent, lender, or commercial bank, I wanted to see if anyone had some pointers. Would you recommend refinancing before/after purchasing another property? Or should I look for a lender that would finance a new property along with refinancing my current one?

My debt to income ratio, payment history, and credit score are all in very good standing. I can provide specifics if needed.

Thanks!!

[Curt Davis]

There is no right or wrong way to go about this.  I would suggest you get with your lender and run these scenarios by them and see what they say since they are the one doing your loan/refi, you want to make sure there are no issues once you get started. 

Good luck