diego
Member
Cash: $ 2.70
Posts: 13
Joined: 14 Sep 2005
|
| What's the ideal LTV on an income property? |
 |
|
Hi all-
I own a small 2bd1ba home in a slow market (western PA). I am moving to a new job next year across the country. I currently have an equity loan of approximately 40% loan-to-value at the last appraisal (1.5 years ago).
Since the market here is so dog-slow, I'm considering renting this place and using it as an income property. Since my LTV is low, does it make sense to re-finance at a higher LTV and invest/cash-out the difference (perhaps even in another income property)?
I've never been a landlord before, but I assume that a management company could help. Any input or advice regarding re-fi and/or landlording from across the country would be greatly appreciated!
Thanks,
Diego
|
