All Forum Posts by: Megan Collins

Hi @Andrew Postell, thank you so much for your response!! I guess I incorrectly assumed that investment loans wouldn't be offered at 30 year, fixed rate... The property is a SFR in a good neighborhood and in excellent condition. If I could qualify for a 30 year mortgage at a low enough rate, that would definitely help the cash flow! I have also thought about selling it to fund other properties, but I would prefer to refinance. I will PM you for more details. Thank you so much!

Thank you, that makes all the sense in the world because the equity is definitely from appreciation and not from substantial rehab, and on top of that, I think my rent is a little on the low side. Thank you so much for taking the time to answer my question!! 

Hello! I am new to investing and I currently have one SFR that cashflows about $350/mo and has substantial equity (around $100,000). I am trying to figure out how to fund my next investment purchase, but when I run the numbers for calculating a refi to pull out even just $40,000 of my equity, my cash flow seems to entirely disappear. I feel like I am missing something here... how can I have so much equity and not be able to access it when this is supposedly *the* method? The lender I talked to quoted me 4.5% for 25 years for an investment property.

Thanks in advance for any insight or info!

Megan