BOUGHT IN CASH - HOW SOON CAN I REFI OUT?

[Sami Yacoub]

Hey Everyone! 

So recently I purchased a property in cash and am debating on flipping or holding. If I decide to hold and place a tenant in there, I’m looking for guidance on options to do a cash out refinance quickly. From what I’m seeing and hearing there needs to be a seasoning period of 6 months before you can refi. Does anyone know of any ways around that? 

If not, someone please give insight on a strategy that would allow me to BRRR more than two homes a year 😃 Here to learn more on the creative financing. Thanks in advance!

[Jayson Cain]

@Sami Yacoub If you did not make any significant improvements to the property, most lenders limit you to a loan amount based on your purchase price if you're doing the refinance within 6 months. If you did a lot of improvements, some lenders have no seasoning period and will lend on the new appraised value of the property.