How to Refinance a Rental Property

How to Refinance a Rental Property

Have you ever wondered how to refinance a rental property in order to exponentially grow your portfolio and increase your cash flow? If so, today’s video is for you! I’m going to explain exactly how to pull the equity out of your real estate investments.

In this video, I’ll walk you through the four steps you need to put in action in order to refinance your rental property. I’ll talk about identifying the right bank, finding the right loan, and more!

You’ll learn exactly what you need to do to refinance, and how to find your best options. You’ll also learn how much to expect from your refinance, and the importance of shopping for your financial product locally.

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20 thoughts on “How to Refinance a Rental Property”

  1. Great channel and valuable information. Quick question on the topic of this video: How do you refinance a rental property that is owned by your LLC?

  2. As i have followed you for some time I know you buy your properties in an LLC entity, when you refinance with a bank do they let you hold a mortgage in that entity? If so, do they then treat it as a commercial property?

  3. Great video Morris. Question for you: what is your cash flow goal when you handle the cash out refinance? If a property cash flows $500/month with 30% initial down and than a year later you do the refinance and are able to take out most of your initial downpayment and in return your cash flow drops to $350/month while still paying off the mortgage by the rental income for example – do you have criteria you try to achieve which each cash out refinance you do? Also what is your opinion on the fact that $4-$5k closing fees are taken out each time you refinance ? Thanks in advance 🙂

  4. Hi Clayton – I'm a big fan of your podcast and these videos. My question on this video is this. Does this also apply if you own the house in an LLC? I was under the impression that most banks won't lend to LLCs. This is a strategy that I'd like to implement and the LLC thing concerns me. Thanks.

  5. You're not being clear about net worth. Your net worth increases with your equity. If you buy a home using a loan for 10000 and it's worth 15000 your net worth increases 5000, not 15000.

  6. Hey Clayton You may have talked about this if so let me know were to look.We buy houses in the midwest and we live in CO.You say to work with my local bank in co to refinace my rental in for example Ohio.They are going to refinace my house if its free and clear out of state?Also alot of banks have a minimum amount of value before they will refinance a house how are you getting around that with first house purchase?Thanks

  7. Hey Clayton, to refinance do they look more at the house/ equity or do you still need to qualify with income and proof of funds?

  8. Thank you for the video. I have a clarifying question, do I get a loan against the X % of the appraised value of my rental property or just X % of the equity (value minus loan) I hold in the property?

  9. Where are you getting 4% on an investment property? I was just quoted 6.875% in Oct 2017. I was told we would get a better rate -2.5% or more on our personal property. I have a rental property that is nearly paid for where I have over $100k less than 1.5 yrs remaining on mortgage and a double I live in that which has around $100k in equity, which has another 12.5 yrs on the mortgage.

    If I were able to take $100k out of one and invest it in Rental Income with Morris Invest, which property would you suggest and what could I expect for positive cash flow each month?

  10. Does refinancing only work when you own the property free and clear? What if you had to take out a loan or get an investment you have to pay back to buy the first property?

  11. Love your info but just one problem. Your prices for houses are so low. I'm stuck with high priced rentals in California. Wish I could get houses for 50K like you say.

  12. No one talks about the fact that once you get like 3 mortgages you won't qualify for anymore. So you can't repeat more than twice.

  13. great vid it seems like you may have to add some $ onto the re'finance $ to get another property also what's a good way of getting to know my local market?
    thanks for the vids

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