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Updated almost 4 years ago on . Most recent reply

James Gardner's profile image
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James Gardner
  • Rental Property Investor
  • from Port Saint Lucie, FL
  • Member since Aug 7, 2018
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James Gardner's profile image
James Gardner's profile image
James Gardner
  • Rental Property Investor
  • from Port Saint Lucie, FL
  • Member since Aug 7, 2018
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James Gardner
  • Rental Property Investor
  • Port Saint Lucie, FL
1
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General Real Estate Investing

Refinance, how to get my money out of this property?

James Gardner
  • Rental Property Investor
  • Port Saint Lucie, FL
Posted

I purchased a property for 20,000 cash and spent another 75,000 rehabbing the property. So, I have 95,000 in the property and now I am trying to get my money out, but I may run into my debt/income being to high for a traditional loan. What are my other options to pull my money out of this property?

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J Zev J.'s profile image
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J Zev J.
  • CPA
  • from Colorado Springs, CO
  • Member since Sep 2, 2016
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J Zev J.'s profile image
J Zev J.'s profile image
J Zev J.
  • CPA
  • from Colorado Springs, CO
  • Member since Sep 2, 2016
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J Zev J.
  • CPA
  • Colorado Springs, CO
258
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J Zev J.
  • CPA
  • Colorado Springs, CO
Replied

Try a commercial loan. Also, maybe try speaking with a local mortgage broker. They're normally really good resources for what you're trying to accomplish. 

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