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Where has all the Investor Money Gone???

I have purchased a few homes over the last year, I have been good at making sure there are good cash flows and I have seasoned the homes for over six months, but I still can't get a decent refi with cash out.

It is amazing that I can not find anyone to refi these homes to pull some cash out so I can buy more homes. Today I was talking with some people and I get the same line that the seasoning must be 1 year and then I will only be able to go to 75% LTV.

Cash is not flowing yet and it is really cramping investors that are interested in purchasing homes in an effort to increase their value and hold them for decades to come.

Go Figure!

RJH

Posted by Robert Huntsinger - Empire Realty Upland, CA - Full Service at a Discount on 09/09/2009 09:52 PM

Comments (5)

Refinancing in the Mortgage / Finance Channel

lending money refi cash out investor

Post is included in group: Southern California Real Estate Forum
Post is included in group: Investing in Real Estate
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5 Comments on Where has all the Investor Money Gone???

SEP

That is a great question. Where did it go in Charlotte?

SEP

I suspect it depends on WHERE the rental property is....in our area of Virginia, investors are buying and my current clients are able to re-fi - usually for a lower rate rather than a $$$ pull out.

SEP

I'm glad they're making it harder for 'investors' to get loans. First time buyers and people who actually need the home to LIVE in should get first priority. If you had said you had all cash, I would say then you are a true 'investor' and of course cash is king. However, you're just borrowing on top of borrowing on top of borrowing to make your own house of cards. And you wonder how this economy got where it is.

Don't get me wrong - you SHOULD do as you are as long as you can. I'm just glad the system is adjusting itself to self-regulate the priorities of actual homeowners before *cough* "investors" *cough*.

Leverage is a reality, get use to it.

Agreed, it is. So go get some leverage already and stop complaining when you can't get any. Fair?

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