Updated about 14 years ago on . Most recent reply
Closing costs mess up Cash return.
I typically buy houses worth 110-140K for 65-80K (cash) and then spend 8-15K on rehab before renting the out for 1150-1250/month. When I cash out refi. I end up have to pay $4k in closing costs on a 80-90K loan. Is this a reasonable closing cost? I think it is too much, it significantly reduces my cash on cash return, sometime by 50%. What do y'all pay in closing costs on a NOO cash out refi?