Updated over 8 years ago on . Most recent reply
Cash out refinancing on 3 family investment properties
In the mid 2000s I did a few buy-renovate-refinance deals where i cashed-out after the renovation was done, rolling the repair costs in to mortgage. However last year I tried to do a cash out refinance on an investment property to buy out my partner/father and had a hard time finding someone to do the deal. I ended up using a commercial lender/loan which added a lot to the costs.
Is anyone doing cash-out-refinances on multifamily? Property is $579K. I expect to put $80-100K. I would expect the new value to be 800K-900K. I would be okay with the HELOC as well but don't know if anyone offers that.