*The Commerce Journal>>>Renting & Real Estate

Can I refinace the rental property which I paid in cash?

Of course you can. Assuming you will put the proceeds of the loan down on another investment property, that is the power of leverage.
A word of caution: Be sure not to over leverage or over extend yourself, as that could be a large financial mistake in the future if things get tough. Always have cash reserves or lines of credit to pull from for the down times like vacancies, repairs, evictions, etc.

Final note: Get educated. RE investing can be very profitable if you know what you are doing. You also need to know about mortgages as well so you get the best one for your investment and not get screwed by a lender (just look at all the bad loan foreclosures in our country as proof)

Good luck

yes!

It is called getting a mortgage.. Go to a couple different banks, and they will lead you thru the process... Since it is paid off, the property will stand for itself, and you can cash it out for a good size loan... But don't do it just to get greedy and blow the bucks.

Yes, you are just getting a loan which is secured against the property

If your rental property has been paid for in cash. Why in the world would you want to put a loan on it?
The income alone off of the property would be your added income. And that can be used in your monthly income statement for another loan on another property. Do not tie your property into any other property.

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