All Forum Posts by: Christina Kokologiannakis

That is a great question. I am looking at the same thing.  My thought is that if you can pull out the money to buy while the interest rates are still relatively low, and you can buy again relatively low.  The average interest rate for the last 30 years was 8%.  So we are still low.  My consideration - if my new mortgage at the higher rate is still covered by my rental income, then I feel it is worth doing it.  But I am still nervous and would love to see how others look at it as well. 

That makes since.  If I am fine with the fees on the refi, especially if I can pull out that money, it works better for me.  Putting the fees aside, do you know if it can be done? 

We are closing on buildable land in a few days.  We will eventually build an Airbnb on the property but can't do anything till the plans and budget are ready.  Until we can convert the loan in to a construction loan, I want to refinance out of the high interest rate we have on it.  We needed to us a hard money loan due to banks not counting our Airbnb income and my business income.  We are putting 50% down on the property, paying 2 pts and at 10% interest rate.  

I would like to refinance pretty quickly and get back out as much of the 50% cash we had to put down. 

Can some one explain how that will work?  Is it possible? How long do I have to wait to refinance? What do I need to be able to refinance land? 

I really appreciate the help and guidance. 

 

Ok…would you do it now with the higher interest rate?  The one I would do it on, I have owned for about 5 years now.  Does it still make since to do it now?  Do you do this on a property that you plan to keep long term? 

Do you do it as many times as possible to pull the full amount out?  Does it take multiple times or can we pull it all out at once? We invested about $200k in it when we bought it.  We for sure have the equity to get all of that out.  

Sorry for the firing of questions, my mind is working the options 😁. I really appreciate all the insight. 

I have a SF full time rental that is a wash every month.  But nothing comes out of my pocked which is good.  It has appreciated a lot.  We are going to give notice to our tenants, fix it up and sell it. I want to do a 1031 exchange and buy a multi-family.  I want long term equity and good right now cash flow.  

I should net about $500k from my 1031 to put into my next investment.  Should I go for two small multi-units like 4-plex with $250 down on each? Or should I just go for as many doors as I can get that will cash flow with good long term appreciation? 

I am open to buy anywhere in the US.   I just don’t know if it’s bad to just go for a big building right away?  Is there a way I should be moving into multi-family? 

I have been listen to the BP podcast. 

My question is about something I keep hearing in the BP podcast.  I think it was they are financing out of their property.  Or cashing out of their property.  Maybe these are two different things.  But I would like to know what these mean and how to use them.  Is this the same as refinancing to take out the money you invested in it?  I heard about that as well. 

I appreciate the help!