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We had thought about that scenario. We also thought about selling it as even with putting money into it, the other rentals in a different area are doing much better, which is where I'm thinking of buying another property. It just kills me to sell when the market is down.

The other rentals are all on 30 yr fixed rate mortgage. 2 have a positive cash flow with rate of 4.75% and 5%, 1 breaks even with a rate of 5.75%. We wanted to refi the 1 that breaks even for a positive cash flow, but due to having 5 properties we are unable to refi unless we have 30%...

I have a rental property on a 15 yr mortgage with only 5 yrs left. Should I refi and take money out to buy another property or pay off the mortgage as soon as possible. Rate is 5.25%, mortgage is $1800 pm, it rents for $2500 pm. We are in our 40's, live in CA and have 4 rental properties. I'm...

We have a rental property on a 15 yr mortgage with only 5 yrs left. Should we refi and take money out to buy another property or pay off the mortgage as soon as possible. Our mortgage is $1800 pm, it rents for $2500 pm. We are in our 40's, live in CA and have 4 rental properties. I'm...