Cash out Refi

[Jordan Raflik]

I am looking to purchase some property sometime this year and want to be able to make a deal quickly. 

Should I do a cash out refi on my currently property now or wait until the deal is ready. 
My initial thought would be to do the refi now and be prepared for anything. 
I have enough equity in the property to make a purchase and a renter in place to make pay the amount of the refi. 

Any thoughts would be helpful.

[Jay Hurst]

Quote from @Jordan Raflik:

I am looking to purchase some property sometime this year and want to be able to make a deal quickly. 

Should I do a cash out refi on my currently property now or wait until the deal is ready. 
My initial thought would be to do the refi now and be prepared for anything. 
I have enough equity in the property to make a purchase and a renter in place to make pay the amount of the refi. 

Any thoughts would be helpful.

 The key word in your question is quick.  If find a deal that you need to move quickly, that likely means it is a very good deal and others with cash in the bank will also want it. If you do not have cash in the bank so you can move that quick you will lose the deal. That simple. So, do the cash out now so you have the cash in your bank.