All Forum Posts by: Garrett Hansen

I like the idea, as right now he's not taking advantage of any real leverage as it's paid off. It's not often wise to have all ones eggs in one basket. Ultimately depends on his strategy and goals.

Thought I'd throw out that I've got a 85% LTV cash out for a 1-4 unit, if your friend could benefit with getting more cash out. PM me if you'd like more info.

Jacob I'm up just north of SLC, but you have a worthy goal! My team has a STELLAR 1-4 Unit investment property loan solution requiring only 15 percent, with no MI, up to a 4 unit. Just launched it last month, and it's ready to go. I'll shoot you a message and would love to connect.

Sounds like you have some options. To eliminate the PMI, you'd likely need the home to appraise for close to $290,000, if you finance the closing costs. Should put you below 80% LTV. With a cash out, you'd be limited to only being able to tap the equity beyond the 20% mark. So ultimately it will depend on your appraisal. One thing that I like is the advantages of the HELOC beyond the refinance, as it will allow you to cash out only what you need when you need it. But I think a refinance, and HELOC look to be a good fit, so long as the appraisal comes in high enough.

And Mike Gallagher I'll be sure to check out the podcasts as well!

Awesome! Thanks for the tip! I'll be sure to check them out. 

Thanks @Kyle Tokasey! 

I am newer to the industry and my goal is to soak it all in! I am hoping to be in a position to buy in 6 months time and want to learn as much as I can up until then. I believe that all parties can win in a well structured real estate deal and look forward to my first one.