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Updated about 2 months ago on . Most recent reply

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11
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Briley Roe
2
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11
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Novice investor running numbers

Briley Roe
Posted

I own 1 rental outright, I paid 70k rents for 1000 monthy. I am in the process of refinancing for 100k to purchase a second property. I am using a dscr loan. what I cant understand, is why are my closing costs so high. above is the numbers on the refi. Below are the numbers on the second property I will purchase with the refinance.

The second property will need 25k in repairs, and rent for 1350-1450 monthly.

1. Does property 1 with refinance seem like a normal refi cost?

2. Does loan 2 below,  seems like a good deal?

3. Are the closing costs on both of these two high?

I am currently enjoying my 1k monthly income with no debt, and I am nervous about leveraging.  

  • Briley Roe
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