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Updated over 6 years ago on . Most recent reply

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Michael Junior
  • Real Estate Agent
  • San Diego, CA
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How does refinancing “ get your money back “

Michael Junior
  • Real Estate Agent
  • San Diego, CA
Posted
Let’s say for example: You buy a duplex, do 15K worth of improvements ( those of which are beneficial in the sense that it will make the worth of your house go up.. not golden toilet seats ) Rent out full Raise rent And then go to refinance. Can someone explain to me what the benefits of refinance entail? How do you “ get your money out “ ??

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Chris Mason
  • Lender
  • California
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Chris Mason
  • Lender
  • California
ModeratorReplied
Originally posted by @Michael Junior:
Let’s say for example: You buy a duplex, do 15K worth of improvements ( those of which are beneficial in the sense that it will make the worth of your house go up.. not golden toilet seats ) Rent out full Raise rent And then go to refinance.

Can someone explain to me what the benefits of refinance entail?

How do you “ get your money out “ ??

 Short version is if you have a $400k mortgage and later get a $500k mortgage, the difference less closing costs is deposited into your checking account tax free.

  • Chris Mason
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