Cash Out Refi on Multiple Properties

[Shawn Duncan]

First off I'd like to thank the biggerpockets community for all the great contacts I have made. This site is an incredible resource no matter where you are in your investing business.

I currently have a few properties that I own outright that I would like to leverage for other real estate flips. I am currently working on a couple flips that are funded in part by a biggerpockets member as well.  I'd like to pull cash out of my properties for 1 year. I am looking to get $80k Total out of the properties.

I am willing to pay 13% annually ($10,400) on the $80,000 cash out Because I feel this is very low risk as these properties are not reo's, they have already been rehabbed and updated.   If you do not have the full amount and would be interested in doing a cashout on just one of my properties send me a message and we can discuss the details. 

Thanks for taking the time to read my post

-Shawn

[Paul Jamgotch]

@Shawn Duncan 

How many homes are involved to get you to $80K? What would conservative LTV be on $80K note? How do you plan to cash investor out in one year? Do you plan to sign a one-year 1st or require longer term on the note(s)?

Thanks and GL