Re: One more thought

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Posted by ray@lcorn on May 27, 2009 at 11:20:22:
In Reply to: Re: Oops posted by Mike S. on May 27, 2009 at 11:06:55:
Mike,
That makes it a little better... a lot actually because the basement and the extra square footage grant some alternative use possibilities, hence improving residual value.
One more thought on the post-closing cash-out refi issue. If you want to avoid any chance of having the exchange denied, wait until the next tax year to do the refi. Even the most conservative accountant will tell you that's as close to bulletproof as you can get.
Given the state of the capital markets right now you might also get better terms by waiting. Use bank financing to close, then shop around for a term loan in January. I do believe CMBS will be back in the second half of the year, but under very conservative underwriting standards.
ray

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Re: One more thought Mike 05:50:31 05/31/09 (2)

Re: One more thought ray@lcorn 10:24:24 06/02/09 (0)

Re: One more thought Mike S. 15:53:44 05/31/09 (0)

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