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Updated almost 3 years ago,

User Stats

8
Posts
1
Votes
Rodney G.
  • Investor
  • colorado
1
Votes |
8
Posts

Ruralish Rental near Telluride for refi

Rodney G.
  • Investor
  • colorado
Posted

I wouldn't post this but rural lenders are difficult. 

Property is off a cistern and certified spring. Has propane and electricity. Year round access although 4wd is needed in Winter even though it's plowed. 

Just off of highway 62 between Telluride and Ridgeway. Used hard money and have finished remodeling. Bought for  $430k for 3200 sf and 40 acres. Three rentals on property. We have a lot of interest and expect 4k a month but haven't signed any leases yet. 

We've had it for one month and would like to refi it. I expect it'll appraise around $650k. Would love to refi cashout on appraisal but I know that isn't likely. Refi off purchase is good enough.

Me
120k yearly
740ish fico

Thanks in advance for any suggestions or upgrades I can make to the property. and

Thanks in Advance

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