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Updated about 4 years ago on . Most recent reply

User Stats

4
Posts
0
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Justin Gustafson
  • Flipper/Rehabber
  • Saint Paul, MN
0
Votes |
4
Posts

Using personal house as financing?

Justin Gustafson
  • Flipper/Rehabber
  • Saint Paul, MN
Posted

I owe $144k on my home, estimated value is $320k. Would you consider refinancing and use that money to invest in other real estate opportunities? I also have $80k cash but am having a hard time finding deals in my area (Minnesota - Twin Cities) that could be funded with only that cash. Thoughts? I’m trying to find my first deal but don’t want to settle.

Most Popular Reply

User Stats

434
Posts
260
Votes
Daniel Anshus
  • Realtor
  • Bloomington MN (bloomington, mn)
260
Votes |
434
Posts
Daniel Anshus
  • Realtor
  • Bloomington MN (bloomington, mn)
Replied

@Justin Gustafson $80,000 in cash is definitely enough to buy a property conventionally. Would love to have a conversation and see what you're trying to do and why you haven't been able to do it

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