All Forum Posts by: Felicia Otoo

Thanks Ashish. I like this plan. I am in the process of refinancing the unit with 7.99 rate for a lower rate of 6.5. Planning to pay off the current HELOC of 48k on the triplex with the cash out. The triplex has gone up over 100k in value over the last year so I'm hoping to increase the line on the HELOC after closing on the cash out refi. Hope I'm on the right path. Looking for the next deal in CT. Thanks again for your comments.

Thanks samuel. Thanks for your response. Will DM you since we are in the same market. 

Thank you Jason. Your response is very helpful. Appreciate your response.

I am new to real estate investing and currently own 2 condos and a three family home. I’m looking to scale my business and trying to figure out the best way to do this.

Both condos were purchased in the last couple years and I’m considering cash out refi to fund my next purchase.

My most recent condo carries a rate of 7.99 fixed with about  90k equity

the other carries a rate of 4.75 ARM with 80k equity
The 3-plex has a rate of 3.45 fixed, over 250k in equity. 

1. Should I refi all 3 properties 

2. Should I refii just the condos 

3. Should I put heloc on the 3-plex due to the current low rate and use the cash to BRRR?

4. What questions should I ask my lenders  to know who is giving me better term and cost besides looking at interest rate.