2 unit decisions

[Thaddeus Ramirez]

So I have a 2 unit and I financed thru hard money. I'm debating weather to refinance and keep long term. If I sell and move on I can make a pretty penny but if I refinance it could be a property that long term could benefit me in retirement being as tho I'll be hitting 40 soon and own my own business. Property goes like this $118,000 back to hard money Sale price 179,900 I have about $15,000 invested once rehab is complete. So I would be into it for roughly $133,000 I understand the profit margin if I sell but I'm not sure how the refinance would work. Could anyone share some insight?

[Avi Garg]

If the appraised value comes to $179k sale price, you can refinance it at 80% which is ~$143k. With this you can pay back the HML and pocket some of your money ($10k - refinancing cost). Now you will have to determine if the rent will cover the mortgage and have cash flow