All Forum Posts by: Benjamin D Powell

Maybe I should have clarified, this is a SFH bought with a conventional mortgage.

I'm looking to do a 80% LTV cash out refinance on an investment property located in Norfolk, Virginia. I've made major improvements to the property and had a tenant moved in with a 24 month lease since closing back in September. From skimming the forums, it appears local banks are more promising when trying to secure 80% LTV on a cash out refinance. Has anyone had luck with the local banks in Hampton Roads?

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $125,000
Cash invested: $25,000

Single family home 3 bed/1 bath. Excellent location within a mile of a major Naval base and a college university.

How did you find this deal and how did you negotiate it?

Through MLS, negotiated pricing through realtor

How did you finance this deal?

conventional mortgage through Jerry Padilla at Prime Lending

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Sean Campbell from Campbell Realty and Jerry Padilla from Prime Lending