All Forum Posts by: Joe Walton
Joe Walton has started 2 posts and replied 6 times.
Okay gotcha, that makes sense now. Thank you for posting I really appreciate it.
Post: buying a property cash and refinancing
- Posts 6
- Votes 2
@John Woodrich, @Tim Swierczek, @Michael Braxton, Thank you all for your input I really appreciate it. Now that I know this is a viable option we are definitely going to be looking at using this strategy.
Post: buying a property cash and refinancing
- Posts 6
- Votes 2
Jason DiClemente, thank you for the information it is much appreciated
Post: buying a property cash and refinancing
- Posts 6
- Votes 2
Okay Great! Thank you, we will definitely check it out.
Hi, I have a question about refinancing a property. If I buy a property with cash say for $100,000 and I want to refinance for a conventional mortgage on the property and it appraises at $150,000 for the refinance, then does the bank refinance for that price. In other words would I then have to pay a mortgage for $150,000. I am confused on this process of doing a cash out refinance, any input would be much appreciated.
Post: buying a property cash and refinancing
- Posts 6
- Votes 2
Hi, my wife and I are new to real estate investing and have decided that we are going to take the buy and hold rental property route. we live in Rochester MN and the market is pretty high right now. We were discussing how to find a good deal and we thought about something that I haven't read about but was curious if anyone else has done this. We thought if we could find a property that was under duress such as behind on mortgage lets say, could we offer cash for the property to make for a quick sale and then refinance with the bank to get our cash back. It is similar to the BRRRR I know but it would be without the rehab portion or minimum rehab. Just find a good deal buy with cash and refinance. Is this a strategy that anyone has used before?