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Updated over 5 years ago on . Most recent reply

Robert Richardson's profile image
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Robert Richardson
  • Rental Property Investor
  • Member since Aug 8, 2019
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Robert Richardson's profile image
Robert Richardson's profile image
Robert Richardson
  • Rental Property Investor
  • Member since Aug 8, 2019
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Robert Richardson
  • Rental Property Investor
8
Votes |
47
Posts
Starting Out

Hello im new to the form

Robert Richardson
  • Rental Property Investor
Posted

My name is Robert I own a duplex and Mobil home that's paid off with $1165 space rent. Owned the duplex for 4 years now and it's gained $200,000 in equity looking to cash out refinancing to purchase a new property and add a ADU to the duplex's garage. I'm currently getting $3100 monthly with a $2400 mortgage payment.

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Jerry Padilla's profile image
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Jerry Padilla
Lender
  • #5 Classifieds Contributor
  • Lender
  • from Rochester, NY
  • Member since Mar 25, 2014
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Jerry Padilla's profile image
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Jerry Padilla
Lender
  • #5 Classifieds Contributor
  • Lender
  • from Rochester, NY
  • Member since Mar 25, 2014
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Jerry Padilla
Lender
#5 Classifieds Contributor
  • Lender
  • Rochester, NY
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Jerry Padilla
Lender
#5 Classifieds Contributor
  • Lender
  • Rochester, NY
Replied

@Robert Richardson

The mobile home will be difficult to finance.......

The duplex you can get an LTV of 70% if it is an investment property. Rates are great right now so it is a good time to cash out!

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