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Updated over 2 years ago,

User Stats

100
Posts
49
Votes
Caden Wakim
  • Flipper/Rehabber
  • Illinois
49
Votes |
100
Posts

I have a question about lending/ bank institutions for Refinance

Caden Wakim
  • Flipper/Rehabber
  • Illinois
Posted

Hello, i have just recently bought 2 properties in which im looking to do a cash out refi to pull some equity back out. Here is the twist. Im 19 years old, both are bought through a hard money lender and im looking to get out of both and pull equity out. The first one is a single family home, bought for 95k, put 20k into it, now its worth 160k, and i have a tenant in paying me 1350/mo. The second one is a single family home, i bought for 150k, now it’s worth in the neighborhood of 190k. I have a tenant paying 2000/mo. I want to do the cash out refi alone and not have my dad attached, i have credit, but its not super strong. Is this possible for me to do? If so, does anyone know a bank/ lending institution who can help me get this done. Thank you all!

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