Updated over 10 years ago on . Most recent reply
Anyone know if I can refinance a seasoned cashflowing Fourplex without a job?
A year and a half ago I bought a fourplex on a 5/1 ARM. Right after I jumped through all the hoops to qualify for the loan, I ended up taking the quit-your-job-and-not-make-any-money-for-a-while entrepreneurial route. Interest rates are so low that I'd love to refinance to a fixed but I don't have a j-o-b. Does anyone know if there's any way it can be done? Here are the numbers:
-It nets about $500 monthly with a PITI of $2,000
-I'm at a 15-20% equity position