All Forum Posts by: Ryan Biankowski

 This is a good idea.  Why WOULDN'T banks be open to cash out refinances?  How do I word this when visiting with a lender?  Do they typically just assume you are going to be refinancing the existing balance?

 Thanks Aaron.  I have about 10,000 in debt on credit cards due to repairs.  I make decent money on my W-2 job but was wondering if you think this will negatively affect a refinance of any sort?  In other words, will be the banks generally look at this negatively?  I do have excellent credit. 

I am nearly completed with my first fix and flip and will be doing a cash out refi in about 2-3 months.  I was told recently that I could negotiate refinance fees basically down to nothing if I tried hard enough.  This got me thinking if there are any other good hacks/tips with refinancing.  Interested to see if anyone has any good suggestions! 

Thanks!

Good morning everyone, 

I am currently in the middle of a live-in flip that is about 80% complete. Not much left to do as I am approaching 2 years living in this home. If I were to sell the property in April or May next year, I estimate a conservative profit of ~ $95,000 before realtor and closing fees. However, I could also stay in the renovated home and do a cash out refinance which would leave me with roughly $40,000 - $50,000 cash on the side to invest with. ($245,000 ARV - $150,000 (Mortgage) - 20% DP of ARV).

I am not a seasoned investor since this is only my first house flip.  My question is what would you guys do if you were me?  Stay in the house, take the re-fi cash + hard money to do another flip or cash out completely - go rent a house and use all the money to do another flip?   I know there's gotta be some lucrative options that I am missing?  

Best, 

Ryan

 Hey Don, my current idea is to do a Cash Out Refinance or possibly sell the house if it makes sense.  Seems like a cash out is #1 for now.  Would allow me to stay in this nice updated house with my dogs and use the extra cash to parlay with private money to do this all over again just on the side.  

 Hey Dave!  It's in Mukwonago, WI.  

Hello everyone, I've seen a topic like this in the past but I haven't found any recently.  Looking to motivate myself and others vicariously through some juicy stories.  How did you start investing in Real Estate and where are you now?  

Hey fellow Cheese Heads, 

Looking to network with fellow investors, flippers and contractors.  I'm mostly interested in finding local investors to partner with who can bring money to the table that are looking for someone to provide the project management for splits.  

I am about 70% done with my first 'live-in' flip where I have been hustling with my W-2 income to fund the repairs and sweat equity, will either be selling next spring or doing a cash out refinance to turn a hefty profit.   Very hungry and motivated to hopefully do this full time as soon as possible.   Comment below, would love to talk with everyone!  

Linda, your story is awesome.  What and how did you finance the renovations?  How much down do you put on the houses?  I'm interested in this method too since I could avoid using investors this way and just use banks.  

Hey everyone, 

I am in the middle of a live-in flip that we are about to cash out on soon.  I'd like to do the next flip using hard money so I don't have to do the work myself.   I am looking for in-depth examples and breakdowns of deals that people have done in the past with hard money lenders.  Looking for actual numbers please - especially the first deal you've done.  I'm hoping this lays out what to expect and any issues that may arise.   I'm thinking a lot of first timers may be interested in this. 

Thanks!

Ryan