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All Forum Posts by: Sophia Green

Sophia Green has started 1 posts and replied 1 times.

General Landlording & Rental Properties

Post: Cashout Refi on Rental

Sophia GreenPosted
  • Posts 1
  • Votes 0

Hello BP Gurus,

I have 2 rental properties in NJ worth $200 each, one fully paid off and other has about 70K mortgage. I own a house which has a mortgage. I am planning for cash out refi on the rental units and use the cash to pay towards my house.

What kind of tax or any other implications I may face If I go ahead with this plan?

0 Votes