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Updated almost 7 years ago,
Options for a Refi on SFR with low ARV
I own a SFR in Kensington (Philadelphia) with a partner that we acquired subject to the existing mortgage.
Existing MTG is 13k
Section 8 rent: $900/mo
ARV is 42.5k, (w/ 15k in construction)
Owned by me and my partner's LLC
I'd like to fix it up to Section 8 standards, get a tenant, and hold it. What are my options for a refi? I would like to get as much of my cash out of it as possible