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Updated over 6 years ago,
Cash out refinance for a paid off Commercial property
Hello newbie here. I have a multi use property( 2 storefronts 1st floor 2 two-bedroom apartments 2nd floor) that I bought cash with a cash out refinance on my primary residence. I plan to hold this property. It was newly built in 2007 and needs no work. I want to do a cashout refinance on the multi use property. I know this would need to be a commercial real estate loan but wasn't sure how easy that would be. Has anyone had success with this strategy?