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Updated over 10 years ago,
I need to refinance my homestead/rental . I would Appreciate some guidance
I have a 4 bedroom that I have on a owner finance mortgage that I have as my homestead, I rent out 3 rooms (as I am a single man no kids no animals) the benefits are great because I can live in the property and still get a small return, anyway I have a 3 year balloon and I am coming up on 2 years in September. I would like to refinance or sell and do a 1031 exchange ,but preferably a refinance to keep control of the property , to give numbers I have a 8 percent owner finance and I have between 30-40 thousand in equity I am looking to get some cash out If possible. Please respond with possible advice referrals to brokers and ways to finance this property as soon as possible