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Updated over 6 years ago,
What condition does a property need to be on to pull cash out.
I've bought a hand full of properties outright and owned them for a few years. I'm looking to pull cash out and leverage these properties. Hopefully someone can understand this question. The are in decent condition, 3 year old roofs, in good repair and working order but 2 are in C areas and definately lived in. What condition should a property be in for the bank to finance against it? Should I repaint and spruce them up with the tenants in there? It's my first mortgage on my rentals and I just dont want to waste time or money getting rejected.