All Forum Posts by: Brian Oaks

Thank you all for the responses. I do agree this decision seems more on the mental side than making sure the numbers are right.  In my mind I was trading off potentially losing the monthly cash flow with building equity in a new property.  So just something I’ll have to think on.  Thanks all! 

Does anyone have specific criteria they look at when doing a cash out refi? The purpose would be to buy another investment property.  I have about 10 years left on the mortgage currently.  The new terms would be 30 year, 1 full % point less in interest, but the payment increases by $250 per month.  It would cut the current monthly cash flow in half on that rental property.  Thank you!