Cash-out ReFinance for Non Owner Occupied Property

[Tom Henderson]

I'm curious if anyone has been able to do this?

I've pulled credit lines out of my properties, but only when owner occupying them.

I'm now living in a 4plex I really like. Would prefer not to move to my next property, where I know there is equity to be leveraged. Curious how you all would handle this..

Trying to stay away from the credit card max! Thanks!

Tom

[Amanda Hensley]

I just did this for a rental we own in East TN.  I used a local (to the house, not to me) bank, where I had an excellent relationship.  It was no problem to get approval for up to 85% of the current appraised value.