All Forum Posts by: Roy Nash

I owned 6 MFH units and inquired about a Cash Out Refinance on one and my loan broker had no issues at all.   The same broker financed all my properties so they certainly knew my situation.  I didn't actually do the deal.   So now I am wondering about how firm the restrictions are on cash out refi after 5 properties based on the comments above.

I use Rentometer but I actually analyze every one of the comparables as well.  I throw out ones that I don't consider comparable based on quality etc.   I have B/C Type MFH units and so try to compare to similar type properties.   You can then see your own lows, highs, Medians and averages.   Then I use Zillow, Trulia, and Craiglist to run manual comparisons.    Seems to work pretty well.      

I live in Spokane and use Rentometer but also complement that with my own knowledge of the market and using Trulia, Zillow, and Craigslist to check also.  I actually analyze just about every property that Rentometer pulls up and I eliminate outliers.  That is some properties are too low and when you look at the details they are maybe not comparable.  I also look at the high ones.  My rentals are 40 years old in the process of being upgraded and are not comparable to a brand new duplex...hence the $300 difference.  I like it as a tool and with renew my subscription when the time comes.  With that said, my own independent research was just as good if not better.