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Updated over 7 years ago,

User Stats

18
Posts
2
Votes
Melanie Siegel
  • Wholesaler
  • Peoria, AZ
2
Votes |
18
Posts

Alternatives to cash out refi?

Melanie Siegel
  • Wholesaler
  • Peoria, AZ
Posted
I'm trying to do a cash out refi on one of my rentals in Nevada so that I can reinvest the money, but I'm having a hard time qualifying. We have great credit, but because we were not planning on this refi earlier this year during tax season, we wrote off everything under the sun. The income is keeping us from qualifying. I've called four lenders and have received the same answer. I'm very new to real estate investing; do I have any options? Someone suggested amending the tax return, but one of the lenders said they would look at both returns and it could be an issue still. I do not want to sell the property or pay a higher interest rate than the current loan at 4.75. Thanks for any advice!

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