Refi Or New Purchase Of A Duplex
I own a duplex and am interested in refinancing it or getting a new loan on it. It has appreciated greatly over a 6 month period and I would like to cash out. I live in one portion and rent the other. I am interested in tranferring the property into my LLC and just renting out the other unit that I live in. Any advice. :-?
Why not sell the other 1/2 of the duplex to the current renters. Or just set up a loan for them, and help themn fix there credit to get it higher and then sell the note. Properties in your area are increasing again, so it would make a good longer term investment. You may just want to get an equity line of credit on it and use that to keep investing as well.
Good Luck,
Kyle