Cash-Out Refinance private mortgage
Hey BP community, looking for some direction on another situation I have. I purchased a fully rented double in November for $120. I paid $20 down and financed 100k as a documented private mortgage with my father. Value of the property is in the 160k-170k range. I would like to do a complete cash out refinance.
I read alot about the Fannie Mae rules regarding delayed financing and the 6 month seasoning period but I am unable to find information directly related to refinancing a private mortgage.
What needs to happen to get this deal done? (refinance and cash-out the full value asap)