Pull the trigger on refi my BRRRR rental to prepare for 2021?

[Shawn Alexander]

So I live in IL and I am looking to invest in 2021. With everything going on with our market where I live im not sure if it will be a small correction or a huge correction. I'm considering refiancing my BRRRR property here in Jan of 2021 to get cash to pull the trigger on some possible foreclosures in my area. Mainly looking for duplex/triplex, I considered a 5 plex near by but I think its not priced currently to make a move on it. I should have roughly 70-80k cash to play with so I guess im asking does anyone else think this is a good idea? Any past experiences with market corrections and the right time to pounce on them?

Thanks!

[Brent Coombs]

@Shawn Alexander, "being careful with their money or pulling it out and getting ready for 2021" is not an either/or question.
ie. "pulling it out and getting ready for 2021" is "being careful with their money"!  Cheers...