Newsflash: Would like to cash out on all of these properties in order to put down for a larger multifamily unit

Potential 9 unit multifamily value = 2 millionCap rate – 5%Down payment 40% – 800kGoals: Equity, initially. Over time, cash flow and equityhttps://imgur.com/2yWlxY4Is it a smart idea to cash out refi on these properties in order to cover a down-payment for the 9 unit apartment?Cash out would increase total combined mortgage by 2000 per month max.These are close estimates of my numbers. Estimates.Location: SocalMarried. No kids. Combined income from work 180k.Income from current properties: ~50k after everything is paid off.Please wring my neck if I need anymore information. I’m sitting at a bar with the wife, drunk, and tired from long work weekThanks

Read more at https://www.reddit.com/r/RealEstate/comments/6neayy/would_like_to_cash_out_on_all_of_these_properties/?utm_source=ifttt

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