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Updated over 5 years ago on . Most recent reply

Zachary Wiederstein's profile image
Zachary Wiederstein's profile image
Zachary Wiederstein
  • Rental Property Investor
  • from Columbia, MO
  • Member since Nov 11, 2015
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Zachary Wiederstein's profile image
Zachary Wiederstein's profile image
Zachary Wiederstein
  • Rental Property Investor
  • from Columbia, MO
  • Member since Nov 11, 2015
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Zachary Wiederstein
  • Rental Property Investor
  • Columbia, MO
5
Votes |
22
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Creative Real Estate Financing

Cash out refi or wait, raise rent to cover mew mortgage

Zachary Wiederstein
  • Rental Property Investor
  • Columbia, MO
Posted

The bank that holds the loan on my rental property is asking me if I want to refinance. I have approximately $100k equity and am considering a cash out refinance.

Con, the new payments may not be able to be covered by the current rent.

Pro, I would be able to purchase more RE, this new RE would almost certainly offset the loss from the first property.

Thoughts from the community...

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Jeremy Wickens's profile image
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Jeremy Wickens
  • Member since Nov 1, 2017
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Jeremy Wickens
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Jeremy Wickens
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could you refinance for less and keep the cashflow at par? 

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