Refinancing to cash out on investment property at 80% appraised value.? - Money in the Bank | Money Maker

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Refinancing to cash out on investment property at 80% appraised value.?

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05-20-2008, 06:07 PM

lafayette

Junior Member

Join Date: Oct 2007

Posts: 2

Refinancing to cash out on investment property at 80% appraised value.?

Example: propert is appraised a $65k, 80% of that is $52k. Amount owed is $24k, cash out would be about $24 after fees. Would taxes be owed on this amount or only when house is sold for final price?

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