Updated about 5 years ago on . Most recent reply
How long till you can refinance turnkey buy and holds?
My brother was a Real Estate Broker for years. I told him that I was going to invest in a property, Wait one year, do a cash out refinance and use the equity to buy a second Investment property and continue the cycle. He said you aren't allowed to do a cash out refinance after only a year, but I think he's incorrect. Isn't this the method used by most wealthy people? Am I missing something?
Keep in mind that I'll put $50K into a $250K house as a down payment