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Updated over 2 years ago on . Most recent reply
Is now the time to refi and buy more MF?
Looking to get the BP fam opinion on this….
I currently am finishing up rehabbing 24 units and can refi out about $300k (now smaller due to rates),- since its a non agency loan, it would be at 9.5% fixed rate IO (insert face slap emoji here).
Right now I am on a fix and flip loan and its cashflowing no problem.
Should I stay, keep paying and wait for rates to cool off, or leverage up, keep my foot on the gas and try and keep buying more?
Would appreciate the input.
Most Popular Reply
@Malcomb Stapel I am at IO for 10 yr before the Principal kicks in. My plan is to get to 150 total units and then sell the entire package at a premium cap rate in about a year to eighteen months time. Does that affect your thinking?