First deal win!

[Kristofer Danaher]

Hey guys just posting some good news I just received on my first deal. I purchased my first deal last year. It is a 6 bed 2 Bath duplex which I house hacked. purchase price was $420k I put about $30k and some sweat equity into it. My appraisal just came back at $600k! I'm looking for some refi/cashout refi advise on what to do for my next deal. I plan on continuing to occupy this property and purchase my next investment property as a long term rental. I'm currently at a 7.1% rate. Any input I greatly appreciated! 

[Matthew Bernal]

Great first deal — that equity position gives you real options.

Since you're still living there, a conventional cash-out refi at 80% LTV on $600K gives you up to $480K to work with. Subtract your current balance and you're likely looking at $80K–$100K cash out for the next down payment.

For the next investment property, DSCR financing qualifies on rental income not your personal income — cleaner structure as you start building the portfolio.

Happy to run exact numbers on both the cash-out and the next purchase.

What's your remaining loan balance on the duplex right now?