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Updated about 8 years ago, 10/02/2016
Cash out on 7 Properties / Commercial ? CashOutRefi - single p ?
I have this situation below -
- The below chart is from various properties.
- All are on 15 or 30-year conventional loan at 4-ish % It's going great everything is cash flowing.
- As you can see there is too much equity - based on a 30% down on each property I should be able to cash out a good amount of equity and go buy something and repeat.
- I have more than 4 mortgages (total 7 + Primary + HELOC)
- 1 Bank says that I cannot even Refi any single property and would have to do a commercial loan.
- My problem is that the current rates are good , very good cash flow , but I need to cash out equity either one by one or as a whole - so I can buy more.
- What do people typically do in these situations?
- What questions to ask commercial lenders ?
- Any thoughts on slicing and dicing these options ?
Max Cash Out Based on 70% LTV | $100,800.00 | $64,527.40 | $65,317.00 | $88,890.20 | $111,428.80 | $109,200.00 | $30,100.00 |