My name is Robert I own a duplex and Mobil home that's paid off with $1165 space rent. Owned the duplex for 4 years now and it's gained $200,000 in equity looking to cash out refinancing to purchase a new property and add a ADU to the duplex's garage. I'm currently getting $3100 monthly with a $2400 mortgage payment.
The mobile home will be difficult to finance.......
The duplex you can get an LTV of 70% if it is an investment property. Rates are great right now so it is a good time to cash out!
@Jerry Padilla not trying to sale the Mobile Home just put a lil work into it and I think can rent it out for between $1800-$2000, I’m waiting for a item to remove from my wife credit and I be ready to refinance and brrr
@Jerry Padilla but how will my mortgage go up?