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Updated about 8 years ago on . Most recent reply

How much to refi?
Hello BP,
I have a situation and I wanted to see what people suggest.
I recently purchased an out of state rental property for $94k, which includes closing costs. In my original projections after doing a refi I was planning to cashflow about $250/month after all expenses.
However the appraisal on the property came back with a $123k value and my lender is willing to refi upto $89k. If I refinanced my cashflow drops to about $100/month.
So would you suggest option A: roughly $20k invested into the property and $250/month cashflow?
Or option B: $5k invested with
Most Popular Reply

- Real Estate Broker
- Cape Coral, FL
- 1,101
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Based on the info given it is a No brainier! Refi!
$15,000/$150 = 8.3 years.
Why would you wait 8.3 years when you can have it today?
Take the $15,000 and get another property that cash flows at $250 and you will have a total of $350.
- Adam Bartomeo
- [email protected]
- 239-339-3969
