All Forum Posts by: Bruce Raphael
Bruce Raphael has started 1 posts and replied 2 times.
Post: Cash-out refinance on apartment building tax question
- Rental Property Investor
- NJ
- Posts 2
- Votes 0
Thank you Lance, Carl & Alina for replying to my question. I am new to BiggerPockets so I was not sure what to expect. This information was helpful and I am looking into the details surrounding the refi. I am active in Monmouth County NJ which is a pretty hot market so if you are interested in working together on multifamily investment properties please contact me. I own a few multifamily properties and I am actively seeking properties to add to my portfolio. While I have been working with a few local investors, I am always open to share in new deals and new projects with like minded people.
Post: Cash-out refinance on apartment building tax question
- Rental Property Investor
- NJ
- Posts 2
- Votes 0
I live in NJ & bought an apartment building 12 years ago for $1M and put down $250K. I now owe $450K on the loan.If I refinance the property now valued at $1.7M and we can pull out $750K in equity with the refi, what are the tax implications? Is there a strategy that anyone can reccomend