Sell or RE-FI? Looking for best way to free up cash

[Jack Pomerantz]

9 newer condominiums purchased for cash at 40% below appraised value.  

 What is the best strategy to free up cash?

Sell off enough units to recoup expenditure?

RE-Finance at appraised value?

Only 2 units are rented out.  I think I could rent them all out at a 6% cap rate with no problems.

Thanks for any advice.

[Matt Crusinberry]

@Jack Pomerantz, That's like asking which color is better, blue or black? What are your goals? Are you a long term investor or do you want cash fast? Are you thinking about retirement, or are you just dabbling in real estate? You could either sell or refinance them. I would suggest you give some more information, as each strategy will produce a different outcome. Some things you may want to keep in mind is the seasoning factor. How long have you owned these properties, and do you own them out right or do you have a loan on them already? Also, before taking them to a lender you may want to fill them up with tenants first to add to the appraised value; and preferably at or near market rents. Good luck!