All Forum Posts by: Phoebe Pulido

@Kyle J. @Ashish Acharya Thank you. If I am understanding correctly, since we will use 100% of the funds to invest into rentals, we will be able to deduct 100% of the interest? I want to make sure this is the case before we pull the cash out. Also, is there any benefit to taking this approach vs applying for a loan for a rental property? Say we want to purchase a multiunit for about $500k, if we applied for a loan on this which would benefit us more for tax deductions? If anyone can point me in the direction of a good real estate account who has the time to help us strategize, that would be appreciated. 

Hi BP Family,

My husband and I are looking to do a cash out refi on our currently paid off home. We plan to use all the funds for investing in rental properties. Would the new mortgage on our home be tax deductible in this case? One of our objectives in this process is to increase our tax deductibles. 

Thanks,

Phoebe

@Cody Neumann @Account Closed Thank you. If we want to cash out refi to put into another investment property in about a year or so, are there any red flags? From my understanding, cash out refi rates are typically higher than conventional loans. So would we end up paying more in the long run by using this method? Any suggestions? 

Hello BP Family,

My husband and I are new to real estate and want to purchase our first small condo in FL for about $50k to be used for long term rental. This question my be very general, but what are the pros and cons to purchasing in cash?  

Thank you!