Updated about 9 years ago on . Most recent reply
Refinance Rental Property
Hello all, I have got 5 rental properties that I own free and clear.4 of which is rented out and the 5th is in the middle of a remodel.My situation is that I took a mortgage out on my primary residence, and a HELOC out as a second lien on my primary residence to purchase the properties.My question is, Can I or should I try to refinance 1 of my rental properties to free up some money to help out with the remodel on my 5th house,or help out with purchasing my 6th house down the road.If that is a good idea where would a good place to go check out.I have a really good income from my employer,good credit,and not much debt at all. Thanks a lot .