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Updated over 5 years ago, 07/02/2019

User Stats

67
Posts
45
Votes
Noam Adler
  • Investor
  • cleveland, oh
45
Votes |
67
Posts

Can I do this? Note/refi advice.

Noam Adler
  • Investor
  • cleveland, oh
Posted

Hi

I have a four plex in Ohio its net profit is around 17k a year. I'm currently trying to refi/cash out . The problem I'm having is since it's a four plex it gets appraised as a residential property.  Therefore the appraisal is all based on comps and not cap rate etc and the other house in this area all being sold for less (my property had extensive rehab done to all four units). 

What can I do to get as much cash out for this property?  Anyway to make a note  and sell that? All advice is welcome. 

Thanks

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