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Updated over 7 years ago on . Most recent reply

Account Closed's profile image
Account Closed's profile image
Account Closed
  • Investor
  • from New York City, NY
  • Member since May 30, 2017
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Account Closed's profile image
Account Closed's profile image
Account Closed
  • Investor
  • from New York City, NY
  • Member since May 30, 2017
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Account Closed
  • Investor
  • New York City, NY
36
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173
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General Real Estate Investing

Cash out refinance rental property headache

Account Closed
  • Investor
  • New York City, NY
Posted

Can use your help community on this one.  About 3 weeks ago i applied for cash out refinance on my fully paid for 3 unit rental property in Fort Myers Florida.  Now the lender is saying it will take 3 to 6 months to get the money out of the property, is this normal? anyone have any experience with this?

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Melvin List's profile image
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Melvin List
  • Lender
  • from Tampa, FL
  • Member since Apr 7, 2016
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Melvin List's profile image
Melvin List's profile image
Melvin List
  • Lender
  • from Tampa, FL
  • Member since Apr 7, 2016
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Melvin List
  • Lender
  • Tampa, FL
378
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1,152
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Melvin List
  • Lender
  • Tampa, FL
Replied

@Account Closed you can refinance in the name of a LLC with a personal guarantee. The rates are going to be higher but it can be done

  • Melvin List
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