6.625% Rate for Cash out BRRR

[Ian Middleton]

I have a stabilized 3/2 BRRR in Katy/ Cypress area (paid cash, rehab done and tenant stabilized). I am a full time REI so dont have a W2 to support my applications. ARV is around 157k and are looking at 70% refi fixed for 30 yrs so around 110k cash out.

On the table offer of 6.625% which is not horrible but not awesome either. Any comments or suggestions on this would be appreciated, as i need the cash to get onto the next deal.