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Updated about 1 year ago on . Most recent reply

Darius M.'s profile image
Darius M.'s profile image
Darius M.
  • Rental Property Investor
  • from Chicago, IL
  • Member since Aug 3, 2008
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Darius M.'s profile image
Darius M.'s profile image
Darius M.
  • Rental Property Investor
  • from Chicago, IL
  • Member since Aug 3, 2008
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Darius M.
  • Rental Property Investor
  • Chicago, IL
5
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29
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General Landlording & Rental Properties

Refinance Two Flat

Darius M.
  • Rental Property Investor
  • Chicago, IL
Posted

Hi,

I have a non-owner occupied two flat in Chicago that I would like to refinance. Anyone have any suggestions of banks that will do a cash out refi on this type of property? Also, what LTV are banks doing those at these days?

  • Darius M.
    • Chicago, Illinois
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    John Warren's profile image
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    John Warren
    • Real Estate Broker
    • from 3412 S. Harlem Avenue Riverside, IL 60546
    • Member since Apr 17, 2015
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    John Warren's profile image
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    John Warren
    • Real Estate Broker
    • from 3412 S. Harlem Avenue Riverside, IL 60546
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    John Warren
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    • 3412 S. Harlem Avenue Riverside, IL 60546
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    John Warren
    • Real Estate Broker
    • 3412 S. Harlem Avenue Riverside, IL 60546
    Replied

    @Darius M. I would run numbers with pretty high interest rates if you want more cash out than 70-75% like @Brie Schmidt mentioned. Can you cash flow with a rate in the 9-10 range? I can PM you a DSCR lender a client of mine has used.

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