After 10 months Ifinally closed on a short sale and now...

[Ciro LoCascio]

Hey everyone,

  After a long 10 months we finally settled on a short sale last week. Its a townhome 1900sq ft 3bd, 2.5 baths, car garage and finished basement. I ended up paying $89,625 for the home and same homes are selling in the 130's range. Since I paid all cash, does it make sense to refinance to pull my money out and use it on another property? Any information on refinance would be great and if it would make sense. Also rents in the area are about $1150-$1300 which I plan to rent out. Besides some very minor cosmetic work, house is move in ready. By far this is my longest but favorite deal!!