How do i pull my money back out of this rehab. - Posted by Rick

import · July 13, 2002, 2:16pm

Posted by Noel on July 13, 2002 at 21:10:42:

That’s what I do for my spare time I use a mortgage company that doesn’t require seasoning its name is GMAC mortgage. You can rifanance at 80% of apraise value to cover your costs and pay your self.

import · July 13, 2002, 2:16pm

Posted by Rick on July 13, 2002 at 14:16:21:

Purchasing a rehab@45k. It needs 10k worth of work. I have the money to do the deal and rehab. My problem is this. My credit is bad (working on restoring it). Homes in area comp for 85-95K. Instead of reselling immediately… I was wondering if sense the prop will be owned free and clear by me… if I can simply refi for 70-75% of value to pull my cash back out… and then rent it out or L/0. Market rents are about $1,000-$1,300 on the conservative side.

Thanks for your timely advice.