Cash out Refi

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I've been trying to think of some ways to come up with a lot of cash to purchase more property.

Is cash out refi smart on a paid off home?

[Elizabeth S.]

Sure, they'll five you 70-70% of the ARV. Use that cash wisely of course because you have a mortgage again. I'm in the process of doing one and the closing costs are around $800 it seems. I haven't priced any other banks though.

Another option would be a line of credit with your home as the collateral. You could buy on terms, you would just need money down and then rehab money. You could find a private lender. You could get a loan from the bank.

Oh the joys of needing money for real estate. So many deals and NEVER enough money!!