How does refinancing “ get your money back “

[Michael Junior]

Let’s say for example: You buy a duplex, do 15K worth of improvements ( those of which are beneficial in the sense that it will make the worth of your house go up.. not golden toilet seats ) Rent out full Raise rent And then go to refinance. Can someone explain to me what the benefits of refinance entail? How do you “ get your money out “ ??

[Chris Mason]

Originally posted by @Michael Junior:

Let’s say for example: You buy a duplex, do 15K worth of improvements ( those of which are beneficial in the sense that it will make the worth of your house go up.. not golden toilet seats ) Rent out full Raise rent And then go to refinance.

Can someone explain to me what the benefits of refinance entail?

How do you “ get your money out “ ??

 Short version is if you have a $400k mortgage and later get a $500k mortgage, the difference less closing costs is deposited into your checking account tax free.