BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated about 1 year ago on . Most recent reply
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Cash out refinance
We rehabbed an STR, bought it at 400K, and we believe a conservative new value is 450K. Would 360K, or 80% of the new value, be the "cash out"? We follow someone on Instagram who seems to give this simplified equation.
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That sounds about right, run an appraisal so you can see the full new property value!