Updated over 5 years ago on . Most recent reply
cash out refinance question
I have about 350k equity in my 700k home.
I can get my hands on some 100k properties that I can rent out ~1,000/month.
If I take out 300k in equity, I know that I will have between 2 and $3000/ month
My current mortgage payment will go from 2000 to 3000/month.
Does anyone have experience with cash out refinance for rental homes?
[obviously there are a lot of details I need to review before going through with this]