Cash Out Refinance Experiences

[Chris Purcell]

I know quite a few people who have bought houses, rehabbed, rented, then refinanced, cashed out and did it again 

Does anybody have positive or negative experiences doing this?

I'm looking to buy houses cheap ($5k-$10) the rehab get rented section 8 and go to the bank

I guess a huge risk would be not hitting your appraisal number and coming out of pocket

Any other advice would be appreciated 

[Kyle Godbout]

Just call a lot of small local banks, and ask them about their rates. I get commercial loans, since my LLC owns all the properties. I get 80% LTV with no seasoning period. However, I get shorter 9 year loans, with two adjustment periods that are amortized over 20 years. So far it works well though!