Should I do a cashout refi on my rental property?

[Andres Britos]

Hi, im looking to purchase another rental property and just wondering if a cashout refi is my best option. 

I purchased my first property in January 2021, with the prices of homes going up, my equity has also gone up. If anyone with experience in cashout refi's can give me some advice or suggestions I would appreciate it.

Thanks in advance

[Kamil Baldyga]

I would say it all depends on what you want. If your focus is investing, will the numbers on the property still work after the refi? What is your intent with the money you pull out of the refinance? Would that money be better sitting in that property or is there a higher and better use for it elsewhere?