Should You Pay Off Your Rental or Cash-Out Refi (And Buy MORE?)

Episode #673 *Mortgage rates have dropped recently,* which is great news for rookies looking to _buy_ a rental property. But is NOW the right time for a *cash-out refinance?* On one hand, *tapping into the equity* you’ve built up in your property could help you *take down bigger and better investing opportunities,* but on the other hand, a completely *paid-off property* might help you sleep better at night. We’re weighing all of your options in today’s episode! Welcome to another *Rookie Reply!* Ashley and Tony are diving back into the *BiggerPockets Forums,* and today’s first question comes from an investor who’s working through a significant *rental property repair.* The tenant is making special requests, but *should the landlord accommodate them?* Next, we hear from someone who’s considering a cash-out refinance for one of their properties. Is it worth deploying their money elsewhere, or is paid-off real estate the *faster path to financial freedom?* Finally, does *commercial real estate* offer better *cash flow* than *single-family homes?* The answer is a little more nuanced than you might think! Episode Show Notes: https://lnk.to/realestaterookieYT Join BiggerPockets for FREE 👇 https://www.biggerpockets.com/signup?utm_source=owned_media 🎉Join us at the BiggerPockets Conference October 2-4 in Orlando. Buy tickets: https://biggerpockets.com/bpcon2026 Buy the Book _Start with Strategy_ : https://store.biggerpockets.com/products/start-with-strategy?utm_source=youtube&utm_medium=description&utm_campaign=none Sign Up for the Real Estate Rookie Newsletter: https://www.biggerpockets.com/email-subscribe?utm_source=youtube&utm_medium=description&utm_campaign=none Find Investor-Friendly Lenders: http://biggerpockets.com/findlenders Cash-Out Refinance: Everything You Need to Know: https://www.biggerpockets.com/blog/what-is-a-cash-out-refinance?utm_source=youtube&utm_medium=description&utm_campaign=none Connect with Ashley and Tony: Ashley: https://www.biggerpockets.com/users/ashkehr?utm_source=youtube&utm_medium=description&utm_campaign=none Tony: https://www.biggerpockets.com/users/tonyr75?utm_source=youtube&utm_medium=description&utm_campaign=none 00:00 Intro 00:40 Handling Property Repairs 09:29 Cash-Out Refi vs. Paid-Off Rentals 17:45 Commercial or Residential Real Estate? 25:26 Send Us Your Question!