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Updated about 7 years ago,
Minimum Amount for Cash Out Refi?
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