Posted by Keen on November 07, 2000 at 09:54:56:
Thanks for your reply.
It will take 10k to fix the property. purchase price is 65K. The property is a 3 unit apartment. We’re only leasing the one unit that needs fix up the owner is still collecting rent on the other two units that is occupied. He is getting $1,125 for those two units. As soon as we are done with the fix up we will exchange title. We’re expecting to fix the house by month end, so we’re only paying one 300/month. We want to refinance to get back the cash we spend on fixing up the property. How long would we have to wait to refinance?