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Updated about 5 years ago on . Most recent reply

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8
Posts
1
Votes
Gerardo Gutierrez
  • Lynwood CA
1
Votes |
8
Posts

Refi after a cash purchase best strategy

Gerardo Gutierrez
  • Lynwood CA
Posted

Hello Bigger Pockets community, wanted to ask what is the best strategy to get the most money from refinance after initial cash purchase?

I am trying to buy a rental property that looks like it is going to need roof replacement and maybe other repairs after we do the Inspection, we are going to buy it cash and wanted to make whatever repairs needed before I try to refinance in few months whenever I can?

I hear I maybe able to include repair costs in HUD statement in escrow when I buy it cash, is that correct? Or how should I go about doing this to get a better benefit LTV when I refinance it later to get the cash?

Thanks in advance for all your help, this is the first time I am trying to do it this way.

Most Popular Reply

User Stats

27
Posts
5
Votes
Louis Hamric
  • Rental Property Investor
  • Memphis, TN
5
Votes |
27
Posts
Louis Hamric
  • Rental Property Investor
  • Memphis, TN
Replied

@Ben Sears That's really great tell them to open a branch in Memphis. I could use some extra cash. Surprised I've never seen that high on LTV.

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