Get cash out of investment property?

Financing, Hard Money Lenders, Private Money
1

Hey All,

I’m trying to get some cash out via refi on my investment property. However, with bank fees , a 75% LTV requirement. … I really am only able to get 10k of cash from my 65k of equity.

Is there a better option ?

2

I thought the idea is to have properties with equity. Cashing out the equity in your investment property turns them into alligators. In a time when it is hard to sell quickly ,if you do not feed them they will eat you.
With that said there are several ways to get your equity out. You could sell the property on a land contract and the sell the note for cash. You could find a private investor to buy in to your investment if the interest is high enough. You could sell for all cash which would take time. You could sell the property on a rent to own basis and take your equity in the form of a down payment and some cash flow. you could sell it sub to and take your equity out in a very large down payment if you could find a buyer like that, it all depends on your market and your marketing as to how to proceed. Just think outside the box.
Redhawk

3

I find these suggestions very useful as i am going to refinance my mortgage very soon.The forum has very interesting topics of discussion and i am looking forward to spend my time to discuss matters.