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Updated over 5 years ago,
Cash out ReFi with conventional mortgage worth it???
Hey guys seeking advice:
HOW DO I GET MY EQUITY IN LIQUID CASH FROM RENTALS?? All
I own 3 rentals, all were purchased with conventional mortgages.
the first Purchased for 60k, owe 36k, appraised around 70k.
2nd: purchased as rental, owe 26k, appraised at 75k.
3rd. Purchased as rental, owe 58, appraised at 90k
Numerous banks have informed me it’s not worth a cash out refi as the closing costs on each would just eat away at profits.
What’s the best way to get my money back out and continue to purchase more properties??
Thanks
Colin