All Forum Posts by: Archimedes Jao

@Archimedes Jao Here's an article that you may find helpful regarding cost segregation studies. Please feel free to reach out if you have any questions!

https://www.biggerpockets.com/forums/51/topics/1113749-cost-...

You have it right. Your lender should be able to give you estimated closing costs and new monthly payment so you can see how much cash you will actually get.

Agree with Robin's answer, the amount of cash you actually get back will be the 360k, less closing costs, minus your current loan amount.

Agree with Robin's answer, the amount of cash you actually get back will be the 360k, less closing costs, minus your current loan amount.

That's correct. That percentage may change based on what you qualify for on the debt to income side (or rents vs mortgage if it's a DSCR loan) but that is the right math.

The "cash-out" refinance amount is going to be the difference between the old loan balance and the new loan balance. In your example, $360,000 would be the cash-out amount (before any closing costs) if you had no current debt on the property (and you were able to get a 80% LTV loan - most cash-out refinances would be limited to 75% LTV FYI)

@Archimedes Jao - We can finance STR's in DE. How long have you owned/operated the property?

@Archimedes Jao We lend on both ends of a BRRRR or in your case "AirBnBRRRR". We're able to use Air DNA to calculate DSCR on the long term debt side even without any actual operating history as long as the property is furnished and listed. (Ideal for BRRRR on a STR)