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Updated about 6 years ago on .

User Stats

4
Posts
1
Votes
Tyler Kring
  • Rental Property Investor
  • Kansas City, KS
1
Votes |
4
Posts

Having issues refiancing my first condo to a fix rate. Any tricks

Tyler Kring
  • Rental Property Investor
  • Kansas City, KS
Posted

I bought my first condo on an ARM when I was in college for 84,900, its worth about 100,000 now and I owe about 53,000. I am tired of the interest rate continuing to grow up to 5.25% this year and not cash flowing as well 975 in rents 520 for mortgage now with HOA and Water bill 180ish a month. I want to switch to a fix rate and take cash out to buy more properties but cant find a bank to write it due to the high percentage of rental properties in the condo complex. Any tips would be very appreciated!