All Forum Posts by: Rich C.

@Chris Winterhalter 

@Michael Noto 

@Arlan Potter 

Thank you for the input. 

For multifamily investors, I'm curious as to how much of the property value you prefer to refinance?  For example, do you refinance just enough to take the cash out of a deal?  Or, do you always take the maximum allowed by the bank?  Or, do you find it is situation dependent (i.e. where rates are or if more steady income is desired?

@Mark F.

@Joe Impagliazzo

@Mehran Kamari

Thank you all for the feedback on this.  

Has anyone had any experience with traditional financing of multiple buildings on the same property?  Specifically, the subject property contains two conforming duplexes on 1 TMS#.    Will a Fannie/Freddie loan be impossible?

Thanks @Robert Sepulveda.

Has anyone had experience with 30 yr cash out refinances above 417k?

I am looking to do a cash out refinancing on a 4-unit property for around 650k with a 30 yr fixed loan.  I know that FHFA's posted conforming loan limits for 4-unit investment property in 2015 is $801,950 so I am optimistic that there are banks that would do cash out refinances up to that amount.  The local bank I just did a smaller cash out refinance with said they cannot do more than 417k for cash-out, however I know that is a 1-unit fannie limit.

Everyone, thank you for the input.

I know most of this forum is "pro-pets".  I have a vacant newly renovated apartment with newly finished wood floors.  A potential tenant has a small (25lbs) and large dog (70lbs) and needs a 6 month lease because they're in between houses.  I'm thinking it's not worth the hassle with the short lease, even with higher pet fees.  Would anyone else care to weigh in on their thoughts?

An update:

The agent who put the tenant in place is handling everything, including finding a new tenant at no extra charge.  

Thank you for the responses!