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Updated over 4 years ago,
Unsure of how to scale up
Hello Fellow Investors,
Looking for advice on how to make my next investment happen. I have a duplex (2/1) in St. Louis, MO that I purchased just two years ago. The financing is at 9% with a balance of $45k. I'd like to figure out how to make my next deal happen but unsure of my next move.
Do I refinance to a traditional loan and use the money that I save in the refi deal on my next down payments?
Try to get a refinance loan which I'm unsure I'd qualify since I need enough equity for a cash out refi and the property is probably worth $80k?
Or try to find funding another way without using this property? Any advice is greatly appreciated!