Good time to refinance and pull out more cash?
Would love to get the bigger pockets community opinion. I currently have a lot of equity in my portfolio. I have an opportunity to refinance one large property, and I’m sure most of you are with new lower rates.
But should I be taking out more cash? The way I see it it is a good limbo time before LTV, and values go down. I want to secure as much capital as possible to be able to buy once a correction (no matter how big or small) happens. The way I see it worse comes to worse I can pay off other properties (with higher rates) with the extra capital I will be able to get from one location.
On the flip side this market may take a loooong time to recover. Rates may get even lower than now, and who know we might just hit a depression lol.
Waiting to see how government policy handles all this.