Innovative Strategies

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Brady Ascheman
  • New to Real Estate
  • Benson, MN
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15
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Cash Out Refinance (Cash Use)

Brady Ascheman
  • New to Real Estate
  • Benson, MN
Posted Jul 14 2022, 18:17

Hi everyone, I am a 21 year old kid from the small town of Benson MN. I just bought my first house on a contract for deed and bought my second house as a rental using a conventional loan. I want to keep the momentum going but it is pretty obvious I am not going to just be able to keep getting conventional loans because I will run out of money on the down payments. On this first rental I plan on rehabbing it and create some forced appreciation. My question for the BP community is if I did a cash-out refi on this property after rehabbing it can you use that equity as the down payment on your next loan for the next rental property? Thanks 

Rochester, Minnesota

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