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Updated over 2 years ago,

User Stats

40
Posts
42
Votes
Tanner Johnson
42
Votes |
40
Posts

Cash out refinancing

Tanner Johnson
Posted

I am going to keep it simple. I am 21 years old own 2 houses outright that I have full equity in worth about $400,000 together with no loans against either of them as well as another house with a mortgage on it. They provide the bulk of my income as I am a college student. My net cash flow from those 3 rentals is about 3500 a month and my other venture earns about 2000 a month. I want to get as much cash out of the two houses as I can to invest in other properties, I Have my eye on. Problem is they will not consider the rental income when I am applying for these because there is not 2 years of income history on them and my other income is not enough to qualify for the refinance. What can I do to rectify this as I do not want to wait 2 years to be able to pull out equity and get more deals, any questions ask thank you.

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