All,
I am based in Virginia and have 3 investment properties and a townhome that we live in. I am trying to generate some more cash flow and refinance my investment properties from 15 year to 30 year loans so that I can work towards not working for too long. As part of this, one of the lenders I am working with is recommending combining two two loans, taking two of my properties in Richmond and combining to one loan and then adding one property into my current home. The logic being it helps with reducing the number of loans, which helps to get more loans for future investment and also reduces closing costs.
I wanted to get this scenario out and see what the risk if any in trying this. Please let me know. I am a new member and would be interested in Networking with folks in VA.
Thanks
Satish
