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Updated over 1 year ago, 08/22/2023

User Stats

91
Posts
30
Votes
Jason Sung
  • Investor
  • Dallas, TX
30
Votes |
91
Posts

Investment home cash-out refinancing in DFW

Jason Sung
  • Investor
  • Dallas, TX
Posted

HI,
I have a house in DFW with no mortgage (free and clean) and rented to a tenant $4000/month. It is a mid-term rental and the current lease contract is for 4 months (while the tenants fix their own house) but can be extended.

House market value is about $450k and there is no mortgage now (free and clear). I want to cash-out $300k. I contacted a lender and they cannot do it since they want at least one year lease contract. 

To pull cash out of the investment home, what would be the best for me? FYI, I have credit score 750+. 

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