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Updated over 8 years ago on . Most recent reply
Strategies to Re-fi a turnkey rental?
Since my turnkey rental was already rehabbed, I can't just fix it up and improve the appraised value quickly. So what's the strategy for how/when to refi a turnkey rental to get some cash out of the equity? Can I take a HELOC ? Or cash-out refi? Are there rules? I have a conventional 30year fixed mortgage on the property, purchased a few months ago. Looking ahead for my next move. Thanks all!
Most Popular Reply
@Andrew R., it'll probably be quicker to save up enough of your own deposit to go again.
If you're buying out of state because they're cheaper, the lack of assured appreciation is one of the down-side prices you pay. Are you buying your own primary in California? How has THAT one appreciated? A periodic HELOC (or cash-out refi) on your primary could work a treat? Cheers...