Looking to refinance

[Corey Bogaski]

So i bought a SFH in October for 155k. I dont have a favorable loan at 6.125% so not losing much if it goes up. Since, I rehabbed most of the house. its a 4bed 2bath, with all new carpet, floor, paint, 1 brand new bathroom. ARV in the area is between 190-225k for the sq. ft. and bedroom/bathrooms. I havent done the kitchen yet, 1 of the bathrooms (neither are in terrible condition) and it also is in need of a new roof.

I came here to ask this; I want to do a cashout refinance. I know the bathroom and kitchen rehab would help with getting a better appraisal. Does getting a new roof raise appraisal for refinance?

question 2- What is my first step to getting a cashout refi? is it as easy as reaching out to my broker?

This is my first property. With this cash, i would like to use it to rehab the bathroom/kitchen, then using the rest to using my FHA loan again into a multi-family property by the end of this year.

Any tips and insight help. Thank you!

[Malcomb Stapel]

@Corey Bogaski  a new roof probably won't do a whole lot for the appraisal, but it will cause you less headaches in the future depending on how long your intended hold period is. It's really a matter of how much life it has left in it versus how long you are planning on keeping the property. 

As for the refinance, reach out to your lender and talk to them about your plans.