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Updated about 1 year ago, 10/07/2023

User Stats

114
Posts
118
Votes
Jamie O'Connell
Pro Member
  • Rental Property Investor
  • Elmira NY
118
Votes |
114
Posts

Cash Out on 90-100k property

Jamie O'Connell
Pro Member
  • Rental Property Investor
  • Elmira NY
Posted

I own a property that I bought for $55,000 in cash and put another $25,000 into fixing up. I believe it will appraise between $90,000 - $100,000. I bought it outright and don't owe any money on it. I would like to get as much of that cash out as possible to recoup what I have put in to it. It is owned in an LLC and I have a high credit score.

Looking for any suggestions on how I should get the money out. Some say LOC, or cash out refi but the under 100k appraisal possability is one road block. High fees for DSCR Loans and such is another possible road block. Have owned for almost 4 months for possible seasoning issues.

Any thoughts or contacts would be greatly appreciated! 

  • Jamie O'Connell
  • Loading replies...