October 28th, 2011 11:38 AM by Eric Fang
I just completed a cash-out refi for my client'srecent cash purchase(we can cash-out right afterthe purchase now). And we talked about the futureinvestment(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 tocash-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 after4 financed properties.
There are still lots of REOs on the market,not necessarycash-offer to get the good deals.
If you read my previous blogs, sometimes, purchase with loans even better. See the link for the reference.