A cash out refi should take 2-3 weeks with most lenders, and you should have only an appraisal a credit report fee as upfront costs. 

Most of us will go even higher...say 85%...but you have to get the property to cash flow at that level.

The cash on cash return is only meaningful when you evaluate it based on your long term plans.

I’m building my network of cash buyers & would love to connect with investors interested in multi-family properties, value-add opportunities, & off-market deals.If you’re actively buying or simply want to expand your network, feel free to DM me so we can collaborate &/or just discuss the possibility of working together on future ventures.Looking forward to connecting with like-minded investors & creating win-win situations!

Second to cash in the bank is HELOC cash because you can use it however you want (you just have to see it already in an account).

Now I know what you all are thinking -- that place is not going to cash flow!

Are you generally seeing cash flow positive deals from day 1?

@Yooni ChoiFor a first property, $100/month in cash flow might not be ideal, but it’s acceptable, especially with a house hack.

Tampa can work, but yes, taxes and insurance are higher and might keep cash flow tight.

I have a property I’m looking at in Missouri that’s about 1,400sqft, and not sure the difference between a Cash and a Novation offer.