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Updated almost 6 years ago on . Most recent reply

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68
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Luis Valdez
  • Rental Property Investor
  • NJ (new jersey)
11
Votes |
68
Posts

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!

Most Popular Reply

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3,451
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1,419
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Jerry Padilla
  • Lender
  • Rochester, NY
1,419
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3,451
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Jerry Padilla
  • 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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