Many people new to real estate investing aren’t aware that most real estate investors grow their portfolios by refinancing their properties to buy more properties. So Dan Patton from BM Select Mortgages came in to break down what “refinancing” means, how it works, and all the reasons you could possibly want to refinance a property.
1. How and why the banks are okay with you loaning you hundreds of thousands of dollars when you refinance your property
2. What the difference is between a Home Equity Line of Credit (HELOC) and a refinance
3. How to choose between getting a HELOC or refinancing your property
4. How getting a HELOC could work against you qualifying for your next property purchase
5. Why should make a plan with your mortgage broker first before refinancing a home
This video explains everything you need to know about refinancing a property to access money & equity!