6 Unit Refinance Low Seasoning Period
I bought a 6 unit complex that I have owner financing on for 6 months. I'll be looking to refinance my rehab money back out of the property around that 6 month mark post rehab and finding renters. Are there lenders out there in the multi family space that will finance me out of the owner financing with a low seasoning period like this? Or will I have to get some sort of bridge loan to get a years worth of performance out of the deal. I'll be into the property for 190k when the rehab is finished. Gross rents will total in the range of 3500-4000.
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@Grant Moffett Yes there are lenders that have a shorter term seasoning period around a 6 month time frame you are looking for they are just a dime a dozen. I don't know any personally, but have read a few post on BP of investors finding these lenders and what they did was basically get a list of all the banks/credit unions in their area and started calling until they eventually found one. Once you get them on the phone, I would also ask them for recommendations if they can't help out. I hope this helps and Best of Luck!