Considering a Refi and Sale of a Flip
I picked up a house in Sep. for 577k with an ARV of 800-810k.
I took hard money, note of 522k.
Paid for the down and renovations out of my pocket ~57k+130k.
Selling will make a little money, but it’s not a ton. The house is great, great location and we remodeled it a little nicer than we originally planned given the strength of the location.
We’re considering refinancing instead and putting renters in for at least a year.
I’ve talked to a couple mortgage folks and haven’t gotten any great options yet.
Anyone doing 80-90% cash out on investment properties? Maybe even IO products?
Thoughts / Suggestions?
Most Popular Reply
If you bought this sept, you will not be able to use the new value to take any cash out with a conventional loan until next sept. so, you make sure you are comparing apples to apples.
- Jay Hurst
