Refi and rent out or sell? - Posted by Matt

Posted by Patrick S. Lawson on September 29, 2005 at 12:48:24:

Refi depends on title seasoning most lenders will not give you appraised value if you have had the property for less than 6 months. That is however most lenders…some don’t care, but will have other stipulations.

Refi and rent out or sell? - Posted by Matt

Posted by Matt on September 28, 2005 at 22:50:40:

I am about a week away from the completion of my first rehab. I ran some numbers and I figure on a sell I would net about $15k after taxes and on a 80% refi I would pull out $14k and cash flow $200 a month. I think it’s probably a no brainer and am leaning heavily towards the refi just wanted to hear some other people’s opinions.


Re: Refi and rent out or sell? - Posted by LS

Posted by LS on September 29, 2005 at 15:19:16:

I have the same question about new construction. Even with a renter I have negative cash flow but now I am six months after closing and can sell or refi and pull out cash. Although I will have to pay about 5000 for the refi, the area is appreciating well. Even with an option arm which will cause negative am, the appreciation makes up for the negative am and its not coming directly out of my pocket so I would agree with your strategy.
For myself I am leaning towards a refi and it even makes more sense in your case since there is no negative.