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Updated over 8 years ago on . Most recent reply

User Stats

12
Posts
2
Votes
Dylan D.
  • Central , OH
2
Votes |
12
Posts

Suggestions on getting cash out of a rental.

Dylan D.
  • Central , OH
Posted
Hello all looking for some advice on how I should go about getting the cash out to make my next deal, I currently own 2 homes 1 is my primary residence. I just had this home appraised at 95k I currently owe 45k plus 10k in a heloc on it. The other house I own free and clear and it is currently Rented at 850/month and it appraised at 92k. My credit score is not horrible but not the best low 600s other then my home and heloc only other debt is a couple thousand in credit cards. I'm having trouble finding any banks that will do any types of cash out refi on the rental. I've tried 2 already. Do I need to just keep trying other banks or is there any other routes I should go. looking to try and secure around 50-60k to make a cash deal on another property. Any suggestions thank you!

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