Mortgage Blog

I just completed a cash-out refi for my client's
recent cash purchase(we can cash-out right after
the purchase now). And we talked about the future
investment(he planned to purchase more). Currently,
he has total of 5 properties with 3 of them financed
and the other two cash purchase. And now he wants to
cash-out erfi the 5th property. I told him that
we could not cash-out that property any more,
unless the Fannie Mae guideline changes.

The right strategy for him is:
1)Complete the cash-out refi for the 4th property.
2)Use loans to purchase the properties after
4 financed properties.

There are still lots of REOs on the market,not necessary
cash-offer to get the good deals.

If you read my previous blogs, sometimes, purchase
with loans even better. See the link for the reference.