First BRRRR method and trying refinance

[Javaras Thomas]

Hello, 

can I refinance my property after 1 year of owning and having a tenant living in it? the market has gone up in South Florida and the value of my comps should drive my value up 55k. is that enough for me to pull out equity? 

[Tracy Minick]

Eric,

It will depend on the amount you owe. In most cases for a cash out on an investment property you have to have a 75% LTV and will have to have a new appraisal. I think you need to look at what the interest rate is currently and what it would be for a non owner occupied property.