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 Refinancing your property for cash, and credit consolidation

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post Dec 16 2017, 07:30 PM

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QUOTE(propertyowner @ Dec 9 2017, 04:08 PM)
Just wondering why some property gurus always advocate to refinance (cash out to reinvest)? since it also capped by the DSR (earning capability), and makes no different if you apply a new loan, without needing to refinance.
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Imagine withdrawing 100k or 200k cash after your property has appreciated, would that help finance your next property in terms of downpayment, s&p, legal fees etc?

But don’t forgo doing well in your career as you climb the corporate ladder, that will help increase your income and overall ability to be eligible for more loans.

CSS
post Dec 30 2017, 01:50 AM

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QUOTE(propertyowner @ Dec 17 2017, 08:40 PM)
May finance it without refinancing if your income ability able to cope.
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I already mentioned eligibility for more loans via bigger income. The point here is to have more cash for more options including subsales.

CSS
post Dec 30 2017, 02:21 AM

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QUOTE(propertyowner @ Dec 30 2017, 02:10 AM)
Same actually. You can't cash out that much if not able to pass the DSR.
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So one needs a much bigger income, work smart 😁



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