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Rehab, Refinance, and Cash Out
Rehab, Refinance, and Cash Out
 
This strategy can lead to true long-term wealth and financial independence. This works very well in a buyers market like Ohio where prices have been quite flat for some time. You need to use this to augment your wholesaling for immediate income and retailing for bigger short-term profits.
 
"Rehab, Refinance and Cash Out" is a long-term wealth building strategy, and will be something you will be glad you did, as it is a long-term "buy and hold" strategy, and those are the strategies that lead to true wealth accumulation, and financial independence.
Let me explain how this works.
You find a good middle to low-end 3 bedroom home that you are able to buy from an out-of-state owner, typically a bank, or other motivated seller, that needs a little work, and you buy at 60% of after repaired value. (You buy the house using a hard money lender, or cash. The hard money lender will typically loan you up to 65% of the after repaired value to purchase the house which you use to buy the house and then repair it. Do your fix-up Now that the home is repaired you obtain an investor friendly mortgage ... more

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