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Updated almost 7 years ago on .

User Stats

115
Posts
61
Votes
Kevin Branin
  • Real Estate Agent
  • Philadelphia, PA
61
Votes |
115
Posts

Options for a Refi on SFR with low ARV

Kevin Branin
  • Real Estate Agent
  • Philadelphia, PA
Posted

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