Updated over 2 years ago on . Most recent reply
Delayed Financing Question
Hi BP - I bought a property three months ago from a wholesaler for $90k cash (needed to close quickly) and put a conventional loan on it about a month later to get some of my capital back. Since the initial closing I got the tenant out and rehabbed it. It should be worth ~$130k.
My current lender tells me he can't refinance it at the $130k ARV until it seasons for 6 months.
Is there any way to get around this and cash out refinance at the ARV before the 6 month seasoning period? Thank you for the help!
Most Popular Reply
No. You have to wait 6 months.