How to shop around for cash out refi?

[Henry Wang]

For those of you who have successfully done cash out refi, which bank did you use and how did you make sure you got the best appraisal? Any insight/feedback would be greatly appreciated!

[John Warren]

@Henry Wang it is really all about your "team". I have used the same lender for all seven of my conventional loans, and as an agent I refer him all my business. We always coordinate together to make sure the appraiser has the best comps I can pull. I typically meet the appraiser when I have a refinance done on one of my properties, and if one of my clients is getting one done I put together a packet for them with all the comps. I also write a lot of notes down about the comps as I have actually been inside of them while helping buyers. I have found this to be a very effective way to get the value where it should be based on the market.