I’ve been told by a few people that mortgage companies won’t touch a refi on an investment property. My sole investment property has increased in equity 60K over the past year due to property values increasing in Northern VA. I’d like to invest in some commercial property with this equity now. I’m the typical inexperienced investor, help:-)!
Driley
Virginia has been one of the “hot” markets for appreciation. I have several clients in the Manassas area and they have seen their property value almost double in the last two years.
Refinances of N/O/O properties are very common.
Driley,
People take cash out of their investment properties all the time. Typically you can get between 90-95%.
Yep,
Those guys are right.
Cash out on investment properties is very common.
I buy all of my properties cash and then do a cash-out refi based on the “after fix-up” appraisal…expect to pay about .25% higher for N/O/O…the last I did was still under 7%.
Keith