All Forum Posts by: Denis Vaughan

Thanks @Brayden Hrycko, yep hoping to pull some cash out and refi into a lower interest in a couple of years-assuming my value add and market trends go to plan!!

@Ryan Thomson-thanks, they probably work similarly here but I will look into it.

@Jason James-definitely, I need to get a few electricians to give some input, working on that now.

Thanks!

Awesome @Jason James, I'm on a 7 year ARM conventional so will refi when rates go down.

Thoughts on electric service upgrade? Will I get that money bank at refi?

That makes sense @Daniel McDonald, wasn’t sure if the cash flow would help the appraisal but I guess not significantly at least. 

Would folks recommend pay down more of the debt in the next 2 years vs saving cash for the next house hack?

Lastly at some point I’ll have to do an electrical service upgrade for the house. I’d rather wait for a few years to do that unless id get that money back, and some, with an appraisal/refi? Thoughts?

Thanks!

Hi all,

I'm pretty new to RE investing and BP but have a question about refinancing. I bought a 3 family, put 10% down and would love to refi in about 2 years. I am forcing appreciation by some light renovations (kitchen/bath for 2 of the units). I am living in one unit. 
My question is: Do I refi while I'm still living there or move out, have all 3 units rented (will cash flow $2000 per month at that point)? Does it help the appraisal to see higher income in terms of the refi, knowing I have to get to at 25-30% equity position to pull some cash out? 

Thanks for your advice!