Updated almost 8 years ago on . Most recent reply
Refinance my Airbnb two flat
Hi! I have a two flat I purchased 3 years ago for too much money but, as luck would have it, managed to rent it out via Airbnb and have been profitable every year. I'd like to continue investing in more properties (flips, brrrr, Airbnbs, etc) and would like to know more about using the value in my two flat to help finance more deals. Market value of the two flat is around $300,000, I owe $210,000. Thoughts?
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Jon Holdman
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Jon Holdman#3 Real Estate Deal Analysis & Advice Contributor
#3 Real Estate Deal Analysis & Advice Contributor
- Rental Property Investor
- Mercer Island, WA
Max LTV on a convential cash out refi for a duplex is 70% (per Fannie Mae Eligibility Matrix). Unfortunately you're right at that number.