Creative Real Estate Financing
Market News & Data
General Info
Real Estate Strategies

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal


Real Estate Classifieds
Reviews & Feedback
Updated over 9 years ago on . Most recent reply

Cash Out Refi
I purchased a 3 unit building with cash over the summer and it will be fully rented within a few more weeks. I am starting to think about my next move and would like to pull some of the cash I put in back out of this property. Would it be a good idea to do a cash out refi as soon as everything is rented so I will be ready for the next opportunity. Or should I wait until that opportunity comes along and do the refi then instead of sitting on a pile of cash that isn't producing? I just hate the thought of making an extra mortgage payment on money I might not use for a while...Thoughts?
Most Popular Reply

Wait , typically refinances can be very quick, unless your bank demands an appraisal. I would discuss this with your banker, let them know your plans.