Updated over 5 years ago on . Most recent reply
Cash Out and Re-Invest?
Hey guys, I have 2 properties that I own. I bought one from my parents for a great deal and think I have about 80k in equity in it. I've been thinking about doing a cashout refinance and taking that money to re-invest in some other properties. Any thoughts or suggestions?
I'm 22 years old, a licensed realtor, and i'm in metro Detroit area. (just to give you an idea of my situation)
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Drew Sygit
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Drew Sygit
#3 All Forums Contributor
Agent
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- Royal Oak, MI
Not many great deals on the MLS anymore! Recommend checking out Pontiac or Hamtramck before Detroit - unless you are really familiar with Detroit and all its risks for rentals.
If you want to stay in the 'burbs, check out Hazel Park, Oak Park, Warren, Eastpointe and Harper Woods.
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