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Updated over 9 years ago on . Most recent reply

User Stats

6
Posts
1
Votes
Angela Kelsay
  • Property Manager
  • Edinburgh, IN
1
Votes |
6
Posts

Cash out refinance: best lenders? (Central IN)

Angela Kelsay
  • Property Manager
  • Edinburgh, IN
Posted

I'm a real estate investor that normally does all cash flips.  I've decided my most recent investment would make a good rental so I'd like to finance it.  After 2 week and a lot if paperwork, my local bank just let me know that they will only finance up to 75% of my purchase price and only after I have owned it for 6 months.  The appraised value is almost twice the purchase value and I want to main liquidity so that won't work.  I'm looking for a better deal. Neither debt/income nor credit is an issue.  Recommendations?

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