All Forum Posts by: Robert Skruhak

@Stone Saathoff Well the refi is definitely off the table for now, most banks put a stop to the 75% cash out. I want to grow my portfolio and prob move out of Austin since property tax has been sky rocketing the last few years. San Antonio will give me more doors with a few duplexs 4-plex etc. Cash flow will also be better since when I bought the Austin property it was a house hack with FHA loan. I want to start investing and not just holding one duplex.

@Danny Webber that is something to think about too and what I was planning if I could do a cash out refi, start looking into my first BRRRR. I think both are good options but one is off the table at least for now.

@Jaysen Medhurst you are exactly right.. After looking into the refi most banks have stopped it completely for the time being.  I will look to continue with the 1031 and make the money work for me here in San Antonio.  You really get a bang for your buck here so will see how it goes.  Thanks for your insight.

Will do, thanks!

Thanks @Joseph Cacciapaglia, I am going to look in to the refinance to see about rates, how much I can pull etc.  I think if I can still do that, pull out 70,000 and still own and have cash flow on the duplex in Austin would prob be ideal.  That way can pick up a duplex in San Antonio and work to fix it up.

So if I do a 1031 I am going to buy 2-3 properties in San Antonio. If I do a refi was going to attempt my first BRRRR with the 70,000. Since this is my first real "move" in investing I am trying to make the best choice.

I have a duplex I am looking to possible do a 1031 in Austin TX. I have also been reading up on the BRRRR method so was also looking into doing a 75% cash out refinance. Here are some numbers below.

Purchased in 2015 for 260,000 (FHA loan)

Current mortgage remaining 227,000

Appraisal estimate= 385,000-415,000

Estimated cash out= 70-75,000

Which would make more sense, I think with the cash out refi could still have possible a $ 300.00 cash flow and around 100,000 equity left (25%)?

I have a duplex I am looking to possible do a 1031 in Austin TX. I have also been reading up on the BRRRR method so was also looking into doing a 75% cash out refinance. Here are some numbers below.

Purchased in 2015 for 260,000 (FHA loan)

Current mortgage remaining 227,000

Appraisal estimate= 385,000-415,000

Estimated cash out= 70-75,000

Which would make more sense, I think with the cash out refi could still have possible a $ 300.00 cash flow and around 100,000 equity left (25%)?