Refinance Question (New Investor)

[Carlos Quiros]

New investor here

I have 2 rental properties (duplex & triplex) that I bought at the highest interest rates (8%), they DO cash flow but now that rates have softened a bit my question is when do you all as investors decide to pull the trigger on refinances? A full point? 2 points?

Just looking for constructive feedback....

Carlos

[Jason Park]

Quote from @Carlos Quiros:

New investor here

I have 2 rental properties (duplex & triplex) that I bought at the highest interest rates (8%), they DO cash flow but now that rates have softened a bit my question is when do you all as investors decide to pull the trigger on refinances? A full point? 2 points?

Just looking for constructive feedback....

Carlos

 Hey Carlos,

I guess it depends on your goals, how much it's appreciated, etc.. Just looking simply at rates may trap you in a way.. As my advice would be to look at what you want to achieve, is it higher cashflow? Cash out to invest in other properties? 

Has your properties appreciated a bunch where sitting on tons of equity just doesn't make sense? Remember, that it costs money to refi...if its a small amount of juice to squeeze, I would just run your numbers to take a look at what makes sense for you and your journey. 

Hope this helps!