All Forum Posts by: Pat Coogan

Mainly talking about Zillow, Trulia, Redfin.  After coming here and reading up the last few months, I get the sense that one should never go after properties that hit the market and instead try to find off-market deals.  Am I wasting my time even going to any open houses? 

@Ozzy Sirimsi This is an investment property, so the first cash out refi was for 70% of value. It was paid off, so that's how we got the equity.

@Dave Van Horn Thanks for the affirmation. Wish I would've realized this before I paid all those closing fees for the first cash out refi, but I suppose better now than never. In your experience, what's a healthy rate of return of equity in one's property? 

Howdy BP folks! Last year I took out 154K cash out refi on a fully owned property. Property value 330K, was approved for 210K. Left the remaining in the house because we assumed we wouldn't need it. Looking back now, it was a newbie mistake. I had been thinking like a saver (take out as little debt as possible, pay down fast) instead of an investor.

Would it be possible to take out a second cash out refi to tap into the remaining equity?