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Updated almost 5 years ago,

Andrew Brown's profile image
Andrew Brown's profile image
Andrew Brown
  • Real Estate Agent
  • from Lake Elsinore, CA
  • Member since Dec 15, 2015
  • Posts 37
  • Votes 26
  • Experience 7 Yrs
  • Investments 1
Connect

User Stats

37
Posts
26
Votes
Andrew Brown's profile image
Andrew Brown's profile image
Andrew Brown
  • Real Estate Agent
  • from Lake Elsinore, CA
  • Member since Dec 15, 2015
  • Posts 37
  • Votes 26
  • Experience 7 Yrs
  • Investments 1
Connect
Andrew Brown
  • Real Estate Agent
  • Lake Elsinore, CA
26
Votes |
37
Posts
General Landlording & Rental Properties

Taking Money Out for Personal Reasons

Andrew Brown
  • Real Estate Agent
  • Lake Elsinore, CA
Posted

Hello BP Family - 

I have a client that is in a financial predicament. They own rental property valued at $700k that is 100% paid off. The rental income is their retirement income. I would like to know if anyone here in the community has taken money out via cash-out refinance to use for personal reasons. My client only wants to use a $100k towards very important bills but do not want to sell due to the cash flow the property produces.

Thank you

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