Updated almost 4 years ago on . Most recent reply
Refinance to buy out partner.
I own with a partner a one bedroom condo in Ft Myers Fl. The condo is fully paid for and is cash flowing nicely My partners is wanting to sell her half to me for $60K, the 1/1's selling @ $130k so this is a fair proposal. My intent is to convert to furnished short term rental. I have two short term rentals in the same complex and they do great with traveling nurses (my niche). Look to finance the 60k. I have the cash available but it is in Roth IRA so would take a big tax hit going that route but this can be used to leverage the loan Are there and lenders that work with this scenario for such a small loan.