Understand the next financing step.
Refinancing is a decision to evaluate with your lender. A property’s appraised value, your qualifications, lender requirements, and closing costs all belong in the conversation.
Questions to bring to your lender
- What appraisal, documentation, and ownership history are required?
- What loan amount, rate, term, and costs are available?
- How would the payment affect the rental’s monthly cash flow?
- How much cash would remain invested after closing?
Review before repeating
Compare the completed project with your plan. Repeating the strategy should begin with a fresh review of your resources, risk, and the next property.