I currently have a duplex rented out in CT FHA, and closed on a commercial property in Mass paid for cash. I'm new to investing and would like to know what's the best way to capitalize on either property.

I think we would need a bit more information on how much is owed on each property vs what they are worth and in general some more details. Let us know and I would be happy to discuss further. 

My apologies the duplex in ct was bought for 200k right at market value I put 10k down and it’s currently bringing in $700 cash flow a month. The property out in Mass is a small store with a garage,a small space that a church rents, and two units above. It was purchased for 120k and I’m told the refi would appraise it at around 230k.I know I can go to a bank to maybe do a credit line , but again I’m completely new to investing and presenting something like this to a bank.

Hey @Alexy Carrucini , so unless you've done significant work to the Manchester, CT there probably isn't much that you can do in terms of pulling Equity out of that as you will likely have to maintain a equity stake in the property of 15 to 20%. I don't know of any refinance options that are doing 90% LTV.

For the Massachusetts property though, it sounds like you may have some more wiggle room. What you would want to consider doing if you are interested in pulling cash (aka Equity out) is what is known as a "cash out refinance". Go to a local bank and let them know that you are interested in putting a mortgage on your property. They will walk you through the steps needed be able to get a loan on it and pull some cash out along the way.

As long as your debt-to-income ratios are in balance, they should have no problem setting this up for you.

@Alexy Carrucini Make sure before you go to get any cash out refi on the commercial property that it is performing the best it can from an income/expense standpoint. The bank will scrutinize those numbers more closely on a commercial refi as opposed to residential. 

On the 2-family, when did you purchase it? It doesn't sound like based on the numbers a cash out refi would make sense but a traditional refinance might. You can maybe lower your monthly payment or lower the years on your loan or both. The traditional refi route making sense would depend on when you bought it though and what your short/long terms goals are. 

Hey guys thanks for the help the Manchester property was my first purchase I have a broker looking to put it on the market, but I feel it’s best to keep it as a cash flow. I did a full renovation to one of the units but it was still bought near market value the li ahoy is great though.

@Michael Noto thank you for the advice on expenses to income on the commercial property it’s definitely something I’m going to look further into by the way guys if possible is there anyone that can direct on getting into the CTREA? I have a friend of mine who informed me the meeting last are the first Friday of every month.

Hello Alexy, what do you plan to do with the equity may be the question. Depending on that answer can help give better options to any plans you may have.