Cash Out Refinance Non-Owner Occupied SFR

[Michael Roberts]

I have a client who made the mistake of paying $95K cash for (1) piece of property located in New Orleans. She is seeking to pull out at least $50K or up to $70K. This property is Non-Owner Occupied and Income producing (Approx. 1,200 per Mo.), as "Student Housing".  Looking to close within 14-21 days. Looking for Asset Based Lenders to fund this deal. This is a Cash-Out Refinance and her FICO is approx. 600.