Updated about 10 years ago on . Most recent reply
refi 5 plex multi unit
I have a 5 plex (one bedroom units) property I want to refinance. I owe about $80,000 (balloon due in 2020)on it just had a comparative market analysis that valued it at $245,000. Brings in about $2,500 +/- in rent a month. Even after expenses it still has good cash flow. All my local banks are making it difficult to refi. I'd also like to cash out about $15,000 and put a new roof on the building. I have also been thinking of selling. What would you recommend?