Is now a dumb time to refi or should I wait it out?

I get the whole “what if I move?” thing, but honestly, renting out a place isn’t always the safety net people think. My cousin tried it and ended up with a trashed bathroom and months of chasing rent. Sometimes waiting it out and keeping things simple is underrated.

renting out a place isn’t always the safety net people think

Couldn’t agree more. People always talk about passive income like tenants are unicorns who pay on time and never clog a drain. Ever tried getting an “emergency” plumber on a Sunday? Makes you rethink the whole landlord plan real quick. Sometimes boring is good, especially if you’re not sure where life’s headed next. But then again, who really knows what rates will do...

People always talk about passive income like tenants are unicorns who pay on time and never clog a drain.

Seriously, this. I had a tenant once who thought “don’t flush wipes” was just a suggestion... $300 later, lesson learned. Renting isn’t some magic safety net, especially if you’re counting on that cash flow to cover your refi. Right now, rates are a gamble anyway - sometimes waiting it out is the smarter move if you can swing it.

I hear you - tenants can be unpredictable, and relying on that rent to cover a new mortgage payment is risky. Curious if anyone here has factored in vacancy rates or emergency repairs when running their refi numbers? Those “little” surprises add up fast.

I always try to pad my numbers with at least a month or two of vacancy per year, just in case. Repairs are the wild card though - last year, I had to replace a water heater out of nowhere and it wiped out most of my “emergency” fund. Do you guys set aside a percentage of rent for repairs, or just hope for the best? Sometimes I wonder if I’m being too cautious, but those curveballs keep coming...