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Updated almost 4 years ago,

User Stats

33
Posts
18
Votes
Gary David
  • Rental Property Investor
  • Greater Cincinnati Ohio Area
18
Votes |
33
Posts

Funding options for a Re-fi with cash out and repairs

Gary David
  • Rental Property Investor
  • Greater Cincinnati Ohio Area
Posted

Looking for some options here I have a 3 unit rental that going in I knew it needed work (Roof, windows, deck replaced) This total for these repairs are about 25k.

I paid 60k for the property all cash. The rents are $1720 p/m Fix cost are about 300 p/m (insurance, taxes, water) I need to figure a way to pull back out my 60k  (for other purchase of properties) and get these items done ASAP . I am guessing the ARV will be about $110-120k but wont know without an appraisal. My bank is running 10-12 weeks to do any type of Refi. Any suggestions on the best way to approach this ?

Thanks

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