All Forum Posts by: Account Closed

If an investor has 5+ rental single family homes (all on mortgage), is it possible to do a cash out refinance on one of those properties? And is there a bank or lender in Dallas Fort Worth (DFW) areas that will do this kind of loan?

 Thank you.

Both houses have 3 bedrooms and 2 bathrooms. One is by Legacy and Custer, the other by Spring Creek and Alma.

 Thanks

I own two single family homes in Plano, TX that are available for rent. I have these listed on MLS, and also on Trulia, Zillow, HotPads, and Craigslist. I have had several showings over the last 10 days, but no lease applications yet. The houses are competitively priced with the market, and have new wood floors and all necessary repairs made. Can somebody offer advice on getting these rented?

Thanks,
Hakim

It is easier to find tenants in early summer than in winter. A big percentage of the potential tenant target market is made up of families with children, who don't want to move in the middle of the school year. I would offer the tenant a lease that ends in May of next year (less than 12 month lease), or May of the year after (between 12 and 24 months).