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All Forum Posts by: Cristobal Sanchez

Cristobal Sanchez has started 1 posts and replied 1 times.

Real Estate Deal Analysis & Advice

Post: Refinance Investment Property

Cristobal SanchezPosted
  • Revere, MA
  • Posts 1
  • Votes 0

I own a property (condo) with an estimated value of about $425K

I currently own to the bank (Mortgage)  $265K and therefore my equity is about $160K. 

My mortgage + Principal + Insurance + Taxes & Condo fees = $2,144.62 ($1,719.62 + $425 = $2,144.62).

The condo which is currently rented for $2750/month, so I make around $605.38 per month.

I am evaluating the possibility  of refinancing (Or using other type of financial instrument) to buy another investment property.

Is there any advice that you can provide in terms of using a financial instrument to buy another property?

0 Votes