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Updated over 1 year ago,
Is it possible to cash out property valued under $75k?
Hi, I just purchased a property for cash for $40K and put in $15K to rehab it. I already have a renter contracted to pay $750/ mo. I was looking at a DSCR loan but two lenders have told me they can't do a cash out refi if it's valued under $100K. Are there any lenders out there that are willing to do cash out from under 75K? I'm planning to transfer the deed into my LLC once the paperwork is cleared. Thx for your help!