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Updated about 7 years ago,

User Stats

231
Posts
124
Votes
Derek Luttrell
  • Chicago, IL
124
Votes |
231
Posts

Minimum Amount for Cash Out Refi?

Derek Luttrell
  • Chicago, IL
Posted

Hi Everyone, 

I'm in the works of buying a 2/1 SFR in suburban Indiana for $20k cash, with anticipated $10-15k in rehab, ARV of $65k.

Pretty much looking at a BRRRR method here, but my question is--is there a minimum dollar/loan amount required for the refi portion? Or, if I wanted to pull out just $20k to do an identical deal, would that be an option?

My question may be a little premature since I don't even have the property yet, but I'm playing chess with myself and trying to think ahead/map out my strategy and goals. 

Thanks for reading, 

- Derek 

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