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Updated over 5 years ago,
Cash out refinance question
Hello, I recently purchased a rental property and put it under my LLC. It's rented out and is cash flowing. Property also appraised at around $15-20k higher than the purchase price. It's been 5 months since the closing and I am looking to purchase another one using cashout refinance. Wondering what's my best bet as I had contacted a local bank which only willing to do it on the purchase price. That of course defeats the purpose and another big name national bank is willing to do it on the appraised price but there's at least a 12 months waiting condition. Open to any suggestions!! Thank you!