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Updated over 8 years ago on . Most recent reply

Dylan Tettemer's profile image
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Dylan Tettemer
  • from APO, AP
  • Member since Aug 30, 2016
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Dylan Tettemer's profile image
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Dylan Tettemer
  • from APO, AP
  • Member since Aug 30, 2016
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Dylan Tettemer
  • APO, AP
54
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Refinancing help

Dylan Tettemer
  • APO, AP
Posted
I'm curious about how refinancing works and how you get money back on deals when you refinance?
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Brent Coombs's profile image
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Brent Coombs
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  • from Cleveland, Ohio
  • Member since Jan 20, 2015
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Brent Coombs
  • Investor
  • from Cleveland, Ohio
  • Member since Jan 20, 2015
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Brent Coombs
  • Investor
  • Cleveland, OH
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Brent Coombs
  • Investor
  • Cleveland, OH
Replied

@Dylan Tettemer, the idea is for you to get the property for no more than 70% of what it'll appraise for (including rehab cost) in six months, so that the refi amount will get you ALL your deposit back!

Why? So that you can do it all again with another similar buy, straight away! 

(The tricky bit is finding those "deals" in the first place!). Cheers...

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