I need some opinions on this refi?

[Douglas Gratz]

Hello friends, I hope you are all healthy in these trying times.

So I have a refi and I know a lot of this is subjective , but I am wondering what you would do in my shoes.

Here are the facts

All in for 102,000

Appraised 238,000

Rent revived by HUd per month : $2400

If I take full amount (75%) it’ll be 172,000 with a monthlong payment including insurance and tax approx $1100.

This house is all rehabbed so I don’t foresee many maintenance expenses for some time.

I don’t have many expenses so realistically in this scenery I can guess conservatively and say I’ll cash flow 800 after all expenses (500 if so)

Would you take the whole 172k at 3.5 % and be cool with $800 cash flow as opposed taking much less and getting 1000+ cash flow on said property?

What are your thoughts? Are you cool with $800 cash flow when you could take less and cash flow much more!

[Fred Shatzoff]

Very simple what happens if you loose your job or something goes wrong with the property.  There is an old saying borrow money when you don't need it.  Because when you need you may not be able to get it.