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BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated 16 days ago on . Most recent reply

Charles Goodwin's profile image
Charles Goodwin's profile image
Charles Goodwin
  • Investor
  • from Piedmont, AL
  • Member since Sep 16, 2015

User Stats

17
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3
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Charles Goodwin's profile image
Charles Goodwin's profile image
Charles Goodwin
  • Investor
  • from Piedmont, AL
  • Member since Sep 16, 2015
Charles Goodwin
  • Investor
  • Piedmont, AL
3
Votes |
17
Posts
BRRRR - Buy, Rehab, Rent, Refinance, Repeat

Cash Out Refi in Gadsden

Charles Goodwin
  • Investor
  • Piedmont, AL
Posted

Anyone know of a bank that will do a cash out refi on a single family home that I just finished renovations on. Expecting an $85,000 valuation and most places I have contacted won't do anything under $100k. House is located in Gadsden, AL.

Birmingham, Alabama
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Jesse Byrer's profile image
Jesse Byrer's profile image
Jesse Byrer
  • Lender
  • from Chicago, IL
  • Member since May 29, 2008
  • Posts 50
  • Votes 34
  • Experience 21 Yrs
  • Investments 2

User Stats

50
Posts
34
Votes
Jesse Byrer's profile image
Jesse Byrer's profile image
Jesse Byrer
  • Lender
  • from Chicago, IL
  • Member since May 29, 2008
  • Posts 50
  • Votes 34
  • Experience 21 Yrs
  • Investments 2
Jesse Byrer
  • Lender
  • Chicago, IL
34
Votes |
50
Posts
Jesse Byrer
  • Lender
  • Chicago, IL
Replied

@Charles Goodwin must won't go below $75K (max loan to value ratio of 75%) so with a value of $85K your loan would be too low. Is the property currently free and clear or do you have a lien on it? I have an investor HELOC that might be an option! Happy to talk though it if you'd like.

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