Refinancing properties is no easy feat. However, when done properly, both syndicators and investors can reap the rewards. Joining us today is Steve Louie, a partner at Vertical Street Ventures, a syndication firm focused on the Phoenix area. In this episode, Steve sheds light on the two properties the firm refinanced, how they did it, and what the benefits for the investors were. Not only did the investors increase their investment, but cash-out refinances are not taxed, so their money was safe. Steve also shares why he recommends using a mortgage broker when undertaking a refi. Be sure to tune in today to hear it all!
Key Points From This Episode:
- Get to know Steve and what his company, Vertical Street Ventures does.
- Details about the two properties Vertical Street refinanced.
- The implications of a refi for an investor with Vertical Street.
- Find out the biggest lessons Steve learned doing the refi.
- Why Steve’s asset management superpower is being a master connector.
“We were able to refinance the property at literally double our purchase price on one of them.” — Steve Louie [0:03:01]
“The nice thing about cash-out refinances is there’s no tax consequence that happens because it is a return of their actual capital.” — Steve Louie [0:03:25]
“I do a pretty good job of connecting the right people at the right time.” — Steve Louie [0:06:54]
Links Mentioned in Today’s Episode:
Steve Louie Email — firstname.lastname@example.org
Steve Louie Phone Number — 714-496-6436