#askbp Refinance on seller finance

[Benjamin Baker]

Hi BP,

#askbp - If I were too approach a FSBO, and agree on a price to purchase their property. We'll say $100k, and I put down 10%. Now that I have title to the property and after evaluating the property I believe I could resell for $150k. Instead of reselling, could I refinance to pull out my cash or pull out a HELOC on the property to repeat this process?

Many thanks to the BP community,

Ben