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All right bigger pockets people you asked for it, and we're doing it we're talking cash out refinance day if you know what it is you know you don't buckle up let's hit an intro alright ladies and gentlemen today we are talking about the cash-out refinance or cash out refine your able to do with this property means it's going up in value enough that you can take some equity, and you can play with it now to keep things simple we're going to do an example on Excel we're going to do a building that's worth a million dollars it's increased to 15 million, and we'll kind of run through the scenarios what I see on YouTube is I see a lot of videos that go a little too much into the weeds, and then you start losing people then other ones that are just kind of explanatory notes on what a refinances hopefully after this video number one you'll know what a cash refinance is and number two you'll know what to do with that money when you do get it alright let's get into it all right don't worry about all of this mess here this is a very simple example I'm going to do, and it's actually very close to a deal I had in the past now for the simplicity of it we're going to use big round numbers, so we're talking about a million dollar property has an increase to 15 million, and we're going to figure out what we can do with that number one how do we refinance that and number two when we get that cash from the bank and this is where I think a lot of videos fall short what the heck do you do with that money and how do you make it work for you so let's get into it here, so I thought it'd be pretty um I think it's pretty simple here so what we have we're gonna look at this area first so 25 2015 is when you purchase the property value of the property was 1 million the mortgage is 800000 and that's one of the first assumptions we're going to make we're going to assume you put a 20 down payment okay that's the equity piece here, and we're also going to assume that the bank requires you after you refinance the property to maintain that 20 equity or in other words 8020 loan to value LTV it's going to differ by different its different banks you know could be larger smaller let's just assume it's 20 so annual net operating code as you can see I like to keep things simple a hundred thousand is what we're going to assume in net operating income this is would be a ten percent cap rate and I understand not listen if I wish our markets were anywhere near this the markets that we're currently in if your markets lower or markets higher that's fine just using an example here already calculated the mortgage rate assumption number three I guess is the fact that we have an annual mortgage payment here of 45 I think I amber ties this over 25 years, so that's the assumption number three so number one twenty percent down payment assumption number two we're assuming 100000 in NOI and number three four point five percent mortgage everybody's cool with that let's keep rock and roll in here okay...
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