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Updated over 8 years ago,

User Stats

85
Posts
29
Votes
Seth Rouch
Pro Member
  • Specialist
  • Denver, CO
29
Votes |
85
Posts

Re-fi trouble Refinance in Kansas City MO

Seth Rouch
Pro Member
  • Specialist
  • Denver, CO
Posted

Hi Everyone,

Last year I purchased a turnkey condo as a rental in Kansas City, Missouri. (I live in Colorado.)  The BRRR @Brandon Turner talks about on pod casts ... well I'm having trouble with last 2 "RR".  It's been a year now. Title is seasoned etc, tenant in place, cash flowing well, and I have tried 10 banks, large and small, in Kansas City to try to re-fi this property. Some references from my current Hard Money Loan and some from my agent in KC. I'm being told "you're out of state",  "the condo is 'not warrantable'", "you don't have enough assets" (which didn't make sense as I own another KC property outright worth over $100k and condo is only worth about $65k, in addition 3 houses in colorado with %20 equity or more, not to mention others etc...)  Anyway, I wanted to reach out and see if anyone has run into this same thing before. It's been quite frustrating and having $ tied up that I would like to re-invest is irritating to say the least. 

I'm open to suggestions and connections.

Thanks in advance!

P.S. Yes, I tagged you in this Brandon just to see if you read it.  ; )  haha  

  • Seth Rouch
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