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Updated about 4 years ago on . Most recent reply

User Stats

89
Posts
13
Votes
Christopher Abernathy
  • Solarcity FEC
  • Torrance, CA
13
Votes |
89
Posts

Can i Brrrr a $65k ARV Property in Washington NC

Christopher Abernathy
  • Solarcity FEC
  • Torrance, CA
Posted

Will the banks even give a $45k Cash-out Refi?  in Washington NC 27889. 

I have a property that is on a fairly ugly street and my comps keep coming in around $60-$70k for my ARV, I'm wondering if I can just pay around $200 - $300 for an appraiser to come out now early and give me a solid figure and also a few pointers on what materials I should and should not replace. it looks like my rehab cost at the moment will be $30k min and maybe even closer to $40k, I'm interested in replacing door jams as well as sheetrock on walls, not just the ceiling and moldings which my current contractor is insisting. That way I get a really really clean fresh look.

Most Popular Reply

User Stats

1,819
Posts
900
Votes
Scott Wolf
  • Lender
  • Boca Raton, FL
900
Votes |
1,819
Posts
Scott Wolf
  • Lender
  • Boca Raton, FL
Replied

@Christopher Abernathy, to play devil's advocate to @Patrick Britton, if the homes in that area are all priced accordingly, there must be a local bank that lends in that price range.  I'd call the surrounding local banks and credit unions and find out.

  • Scott Wolf
  • Loading replies...