Cash Refinance from SFH for next rental purchase

[Mark-Anthony Villaflor]

It’s been awhile since I’ve done any sort of real estate investing so I’m just trying to see if I have this all correct. I’ve built some equity on two properties in Texas.

In 2014 I purchased a house with 20% down.

• 115000 original purchase price
• 86500 original loan
• I'm looking at doing a cash refinance and I believe the LTV for that is 75/25

My assumptions are:

• 160,000 appraisal
• 120,000 loan 80%
• 40,000 20% downpayment
• 120000-76,132.45 (current balance on existing loan) =43,867.55 cash

I’m looking at purchasing 1-2 single family rentals with the cash I receive.

What fees would I incur with doing a cash refinance with these numbers? For some reason I recall that a cash refinance like this would be $5000-7000 but can’t remember what this was from.

What considerations should I have moving forward? Or what strategy am I missing given this info? 

Thanks thanks in advance!