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Updated about 4 years ago on . Most recent reply

Abigail J Steinert's profile image
Abigail J Steinert's profile image
Abigail J Steinert
  • Architect
  • from Wichita, KS
  • Member since Feb 13, 2021
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12
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4
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Abigail J Steinert's profile image
Abigail J Steinert's profile image
Abigail J Steinert
  • Architect
  • from Wichita, KS
  • Member since Feb 13, 2021
Connect
Abigail J Steinert
  • Architect
  • Wichita, KS
4
Votes |
12
Posts
General Real Estate Investing

Refinancing an already paid off house.

Abigail J Steinert
  • Architect
  • Wichita, KS
Posted

I was telling my friend about my plans of flipping houses and eventually moving towards BRRRR and working up a portfolio to retire on. He suggested that I buy a house cheap, flip it, then refinance it with the bank even though it would be already paid off.

Why would I want to refinance after I have it paid off or mostly paid off? It's not the first time I've heard this advice but I'm confused.

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