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Updated 3 months ago,
Best refinancing loan
I am new to real estate investing and currently own 2 condos and a three family home. I’m looking to scale my business and trying to figure out the best way to do this.
Both condos were purchased in the last couple years and I’m considering cash out refi to fund my next purchase.
My most recent condo carries a rate of 7.99 fixed with about 90k equity
the other carries a rate of 4.75 ARM with 80k equity
The 3-plex has a rate of 3.45 fixed, over 250k in equity.
1. Should I refi all 3 properties
2. Should I refii just the condos
3. Should I put heloc on the 3-plex due to the current low rate and use the cash to BRRR?
4. What questions should I ask my lenders to know who is giving me better term and cost besides looking at interest rate.