These concessions lower the cash needed to close and also lower monthly mortgage payments, which are usually the highest expense for 2-4 unit investors.

I am looking to cash out refi here soon to pay it off and use again to purchase my next rental property.

Purchase price: $196,000 Cash invested: $42,000 Sale price: $369,000 Contributors: Peter Vekselman Partner Driven, in collaboration with Seth Choate, successfully completed a deal on Pine Cone Way, Mountain Ranch, CA.

Are investors looking at other markets with positive cash flow? 

Hey @Raul Tirado - I've worked with developers in Queens to figure out whether or not what you're envisioning is even worth it. 

I estimate that the apartment building is worth in the realm of $1.8-2.3 million. 

Hi Brandon,It's likely more effective to look for private lenders at those ranges as most investors buy cash or use private money at those ranges.

I'm trying to BRRR and add value to cash out refi in 3-6 months to buy another.  

My advice for you (and my future self) so far is:- be very detailed about underwriting your deal- add at least 30% to what you think your rehab will cost (even if this figure came from a GC)- have a really detailed design concept before work starts (including fixtures/trim/color scheme/etc)- check with your city/township's building department and see what permits you need up front- have more than one exit strategy- add a few weeks/months to your projected timeline- purchase cash if at all possible- build relationships, take notes, and learn lessons along the way- have funGood luck! 

In my case, I wanted to keep my mortgage payment low, so I decided not to do a cash-out refinance and instead opt. for the HELOC.Either way, it sounds like you have some great equity to leverage to achieve your goals.