Mortgage Blog

Letter to One Client -- Cash-out on Rentals
January 13th, 2011 10:45 PM

Dear My friend:

Since you have 4 properties now, with two of them cash
purchases. If you plan to get more properties, I would
recommend you to complete the cash-out refi loans first.

For the current market, it's very very hard to get
cash-out loan after you have 4 loans. If you purchase
another property now with loans(so you will have 5
properties with 3 loans), it's ok to get cash-out
loan on one of the no-loan property, but it will
be very difficulty to do cash-out loan for
the other one(almost impossible).

So we need do a little bit planning here. Just wait a
few months, until the 4th property cash-out loan
completed, then purchase the 5th property. It will
maximize your buyering power that way.

Your Friend,


Posted in:General
Posted by Eric Fang on January 13th, 2011 10:45 PMPost a Comment

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