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Updated over 10 years ago on . Most recent reply
Have 3 properties, how should I refinance this for maximum cash flow
Hey everyone. My mother owns a home and two 4-unit townhomes.
Current situation
4-unit townhome 1: principal remaining $523K @ 6.625%. Maturation date 12/36. Rent collected ~6500/month
4-unit townhome 2: principal remaining $163K @ 6.25%. Maturation date 1/18.
Rent collected ~6500/month
Home residence: Priincipal remanining $91K @ 5.375%. Maturation date 12/17
I was thinking of refinancing the 4-unit townhome 2 and lower the interest rate and use that cash to pay down the 4-unit townhome 1. Perhaps also keep some cash to put down for another property. What would be the best way to go about this?
Thanks! I love BP