Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 7 years ago,
having problems understandig the refinance part
So i have a question , I cant think of refinancing my property because if i do , I will have money in my hands but the debt will just increase and increase, and therefore I will never get out of debt. I wont even be able to make money if I sell the property and make money out of it if I refinance. I know a lot of people that lost their houses because they refinanced 2 to 3 times etc.
please explain how do I refiance a house and dont get into more debt?
currently i own 3 houses 2 are rentals
all 3 houses i worked hard and saved average of 50 to 60 thousand to cover 20% down and closing costs.
I want to buy more properties but im going too slow because i dont want to refinance im scared.
thanks