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Updated almost 17 years ago on . Most recent reply

Joe Casanova's profile image
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Joe Casanova
  • Accountant
  • from Valley Stream, NY
  • Member since Apr 2, 2008
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Joe Casanova's profile image
Joe Casanova's profile image
Joe Casanova
  • Accountant
  • from Valley Stream, NY
  • Member since Apr 2, 2008
Connect
Joe Casanova
  • Accountant
  • Valley Stream, NY
1
Votes |
2
Posts
General Real Estate Investing

Pull Cash out on Purchase????

Joe Casanova
  • Accountant
  • Valley Stream, NY
Posted

Is it possible to pull cash out on a purchase?

Heres the Deal: Purchase Price = 45k
Estimate Value = 70-80k

Three Family 1st and 2nd floor rented out for 450 each. 3rd floor is vacant.

My bank just quoted me 6% on a 30 yr fixed with 20% down on 60k

I am getting financing on the property, is it possible to pull out 15k and have the loan for 60k - 20% down?

Thanks
Joe

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