This lets you leverage your capital to do more deals.The refi for most investors is to get the lower rate locked in and get some cash back to invest again.If you run out of cash or have "trapped equity" and little cash left then you have to partner with other investors to do deals.I have seen it work sometimes but generally it is a mess unless you can do multiple deals with one partner instead of partnering with one investor for this project and another one for the next.The problem with partners is down the road they get different reasons for selling or exiting the property early.I don't see the refinance bank loaning up to 100% of current value and letting you pull out the 30% and get it back.What many investors do is take on a property with maintenance and vacancy issues using hard money.Fix the problems and then create a higher value for the property.In commercial the weight is given to the income approach.So if you had 50 unit building.Units rent for 500 a month but are 50% occupied.So currently 150,000 gross income yearly.Value roughly at a 10 cap at 750,000 going in.You get for 600,000 and put 150,000 in repairs fixing problems.Total funds needed is 750,000.HML says they will fund 525,000 and you put down 225,000.You work hard and get occupancy up over 6 months to 90%.270,000 gross rents with NOI around 135,000.New value at a 10 cap for refi is 1,350,000.Refi at 75% LTV would be 1,012,500.You get 262,500 back and then your original 225,000 you put down based on the new value.I hope I am making sense.

So although way over-weighted in RE, I am only looking for better return on the balance of our holdings.

It does make sense that you want to over weight on where you get the highest ROI.

I have been told every reason from city codes to the weight of the old shingles.

I am not a big fan of changing layout because you can run into a whole of structural problems running plumbing through subflooring, weight of bathtubs,etc.

It's a fact that some of the markets that got hit fairly hard also have local banks least willing to lend, because many are over-weighted in 1-4's, whether they're performing, non-performing, or REO.

In a few more years of tenants I'm afraid the drywall may need removed and new studs put in.I'm considering purchasing a flat panel wall mount that will fit the size and weight of most retail TV's and installing it myself and making this part of the lease that the wall mount can't be removed.This rental is in a higher end development so the concern of the tenant not having a flat panel should be slim.

Speak with a RE attorney, it might cost you $250-350 but its going to be well worth its weight in gold.

You should paint with a color the same or lighter than the original aluminum.

This certainly made an impact on the 4,000 RFI submissions and weighted them toward what the Govt had already leaked they wanted to hear.