I’m not sure if I am posting in the right category. I’m trying to find out if it makes sense to do a cash out finance on a fully paid seven unit multi family investment property. My thinking is with rates so low and values so high, it would make sense to pull some cash out to use for other projects. Any lenders here? Can anyone give me advice or point me in the right direction?
It depends on what your goals are. You have a couple options. You could use a cash out refinance to brrr if you plan to buy multiple properties or you could also use a HELOC
@Cody Neumann what lenders should I approach? Everyone I talk to is only lending for primary residence.
What's the loan size that you are looking for?
@Justin Tam I agree with your thinking. Especially with how low rates are currently. Where is the property located at?