Multifamily refinance - Income appraisal
Hi BP,
I'm hoping to get some lender contacts to begin sourcing a cash-out refinance partner. Does anyone know of lenders in California, specifically the Central Valley or Bay Area, that will calculate LTV on a 4 unit building using an income based appraised value? Would love to connect with them if so.
Context is that I bought the building at the Comps based appraised value a little over a year ago. Came with well below market rents which have now all been brought up to market nearly doubling the annual income. I'd like to pull as much cash out as possible to move into another deal.
Look forward to any guidance or connections. Thanks!
-Don
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