Updated about 6 years ago on . Most recent reply
Looking for opinions
Looking at doing a cash out refinance on a home in San Antonio and in Shiloh, IL. Will leave 30% in equity in each home and use the cash out to buy a new construction duplex in new Braunfels, TX.
New duplex is 350k. Rent is “projected” at 1460, but I’m planning on 1250 to get them rented faster. All three properties would cash flow.
After the cash out refinance, I would be cash flow positive on all three properties at around 560 a month. I would also have 20k left on reserves to accommodate for delayed rentals in the new build.
Thoughts?