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Updated over 5 years ago on . Most recent reply

Luis Valdez's profile image
Luis Valdez's profile image
Luis Valdez
  • Rental Property Investor
  • from NJ (new jersey)
  • Member since Apr 13, 2018
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Luis Valdez's profile image
Luis Valdez's profile image
Luis Valdez
  • Rental Property Investor
  • from NJ (new jersey)
  • Member since Apr 13, 2018
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Luis Valdez
  • Rental Property Investor
  • NJ (new jersey)
11
Votes |
68
Posts
Multi-Family and Apartment Investing

Refinancing my first property

Luis Valdez
  • Rental Property Investor
  • NJ (new jersey)
Posted

I bought my first investment property in 12/2018. I've added 2 new HVAC systems in April.

1. When should I refinance? (Looking to reinvest into another property)

2. What bank/lender do you recommend?

3. How much does it cost to refinance?

4. Tips before I refinance?

Thank you in advance!

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Jerry Padilla's profile image
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Jerry Padilla
  • #5 Classifieds Contributor
  • Lender
  • from Rochester, NY
  • Member since Mar 25, 2014
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Jerry Padilla's profile image
Jerry Padilla's profile image
Jerry Padilla
  • #5 Classifieds Contributor
  • Lender
  • from Rochester, NY
  • Member since Mar 25, 2014
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Jerry Padilla
#5 Classifieds Contributor
  • Lender
  • Rochester, NY
1,419
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Jerry Padilla
#5 Classifieds Contributor
  • Lender
  • Rochester, NY
Replied

@Luis Valdez

Did you make any other improvements besides the HVAC? Are there any other  improvements you can make to force appreciation? Owning the property less than 1 year, may not increase the value to what you are hoping for.  Underwriters are going to want to see that improvements were done to significantly increase the value of the property. 

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