I'm looking for ALL pros and cons of doing a cash out refi to get an additional investment property! I haven't personally done this yet but have a rental just sitting with some equity and looking to make the money work with a new buy and hold. Any personal experiences would be greatly appreciated!
If one of my properties is a solid performer and will still cash flow well after a refi, I usually decide to hold it.
If its a property that I dont really like, or want to take care of upcoming capex items, or just simply doesnt cash flow great, Id do a 1031 exchange
Make sure you have enough equity in the property for it to make sense to do a refi in the first place (usually around 45-55%)