Cash-out refi on property with SFR and duplex
7 Replies
Shawn Scheinoha Investor from Dahlonega, Georgia
posted over 1 year agoI purchased an SFR on 10 acres in Dahlonega GA a few years ago and built a duplex on it. Most of the properties in the area are nice homes with lots of land in addition to a couple wineries. I want to pull some cash out to use for my other investments and recoup the costs of the duplex build-out. *This is not owner oc.
With all that said, I am looking for a good lender in the North Georgia area for this refinance. The current lender will do the deal but it seems that the rates and fees are higher than normal. The loan will be 70% ltv or better.
Any recommendations on lenders would be appreciated. Thanks!
Hunter Gunnells Agent from Lizella, GA
replied over 1 year agoThis is certainly a great place to find a lender. I have found these, but not used them yet.
http://www.infiniterealtyfunding.com/
If you have the need for an agent, let me know. I am happy to help.
Shaun Weekes Loan Officer / Processor / Life & Health Agent from Alta Loma, California
replied over 1 year agoWhen you built the duplex did you get all the proper permits for the build?
Ethan Atkinson Investor from Athens, Georgia
replied over 1 year agoNational Bank of Georgia. They should be near you in Dahlonega
Shawn Scheinoha Investor from Dahlonega, Georgia
replied over 1 year agoShaun, I did get all the permits. Fortunately the building was already there with power, water and sewer. I simply split the building into two 700 sq ft units.
Shawn Scheinoha Investor from Dahlonega, Georgia
replied over 1 year agoHunter, thanks for the info. I have a great agent that works my local area bit I'm always interested in deals worth doing within an hour or two from me.
Shawn Scheinoha Investor from Dahlonega, Georgia
replied over 1 year agoReturn, I'll give them a try.
Shawn Scheinoha Investor from Dahlonega, Georgia
replied over 1 year agoI meant...Ethan, I'll give them a try. Thanks
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