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Updated over 4 years ago on . Most recent reply

User Stats

10
Posts
1
Votes
Trevor Foster II
  • Investor
  • Maryland
1
Votes |
10
Posts

5 properties: 3 under loan , 2 paid off.

Trevor Foster II
  • Investor
  • Maryland
Posted

I have a deal I’ve been working through. 
5 properties owned by 1 person. 

3/5 properties are under a mortgage @ $136,000 is the payoff amount. $1039 per month 

2/5 the owner wants $60,000 total for both and they’ll be free and clear. 

The bank is willing to do a refi on the current 3 properties or sell their loan. 

creative financing-
Would it be better to try and get a refi on all 5 With their current bank? 
using the 2 properties free & clear as leverage ? 

Would there be a way to refi all 5 in order to pay the 60k Needed at closing for the 2 properties that don’t have a mortgage?


help ! Lol myself and the owner have been trying to figure out a deal. 

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