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All Forum Posts by: Garth Richards

Garth Richards has started 1 posts and replied 3 times.

New Member Introductions

Post: What would you with this scenario?

Garth RichardsPosted
  • Posts 3
  • Votes 0

What if the interest rate would be the same if not better on the cash out refi? 

0 Votes
New Member Introductions

Post: What would you with this scenario?

Garth RichardsPosted
  • Posts 3
  • Votes 0

I'm looking at really taking the next steps as a Real Estate Investor after 7 years of experience in being a Landlord with our only Rental. I have a Single Family Rental Home in Fresno CA with $67k left on the loan. It Zillow's at 185K and I rent it out for $1,000/mo. Mortgage is only $540/mo. Its not in a great part of town.

Would it be most advantageous to pay off this loan and then REFI? I'm looking at starting an LLC and using some Retirement Account Funds to pay it off and then REFI it to get the ball rolling on another Rental. Is this a solid idea?

0 Votes