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Updated over 4 years ago on . Most recent reply

Chris Mandle's profile image
Chris Mandle's profile image
Chris Mandle
  • Investor
  • Member since Jun 28, 2019
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43
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11
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Chris Mandle's profile image
Chris Mandle's profile image
Chris Mandle
  • Investor
  • Member since Jun 28, 2019
Connect
Chris Mandle
  • Investor
11
Votes |
43
Posts
New Jersey Real Estate Q&A Discussion Forum

Re Financing 3 plex in NJ

Chris Mandle
  • Investor
Posted

I own a 3 plex in Newark NJ. As we all know, you can increase cash flow by increasing rent (working on that), but also decreasing expenses. I had always planned to refinance, but am considering it a lot earlier then I originally anticipated. Here are the numbers:

3 plex Appraisal value: 390K

Outstanding Mortgage: 325K

Purchases in Feb 2020.

Any chance to refinance and get a lower interest rate? What do I need to refinance?

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