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All Forum Posts by: Luther Smith

Luther Smith has started 1 posts and replied 3 times.

Multi-Family and Apartment Investing

Post: To Re-Fi or not to Re-Fi?

Luther SmithPosted
  • Property Manager
  • New York, NY
  • Posts 3
  • Votes 0

Oh, I see. Thanks. I'll be sure to look into it.

0 Votes
Multi-Family and Apartment Investing

Post: To Re-Fi or not to Re-Fi?

Luther SmithPosted
  • Property Manager
  • New York, NY
  • Posts 3
  • Votes 0

Thanks for the feedback Chris. @Jassem, can you help me with the acronym HELOC? Thanks.

0 Votes
Multi-Family and Apartment Investing

Post: To Re-Fi or not to Re-Fi?

Luther SmithPosted
  • Property Manager
  • New York, NY
  • Posts 3
  • Votes 0

I'm a newbie investor in the NYC area. I'm focused on starting out with small apartment deals through buying and holding. My family currently owns a six unit multifamily free and clear of debt. I was recently talking with a broker and he recommended re-financing the six family first and have that cash on hand before I venture out to look for my first deal. His point being that I shouldn't wait to find a deal and then have to scramble to pull the money out of our existing property to buy.

This sounds right to me, but is it?

0 Votes