Refinance / Home Equity options in Jacksonville

[Sameer M.]

Hello Folks,

I bought a foreclosure property last month in an A(/B+) suburb of JAX. THe house is 1987 build and I paid 65K for it. It was appraised for 70K without any rehab. I have put 20K in rehab (New Roof, HVAC, Flooring, Water Heater, Paint, Kitchen appliances and other updates). The house rents for $950 month.

I had paid 25% DP on a conventional mortgage. My total cash invested is 25%of 65K and 20K. What option do I have for getting the cash out at least 70% of the rehab amount?

This is an Investment Property. I have 1 Primary and 3 SFR (total 4) and a credit rating of 760+

Any feedback / help is appreciated.