Cash Out Refi: Not Waiting 6 months?

[Pete Fiannaca]

Hey Everyone, Quick question for the masses. Anyone know if this 6-month "seasoning" process for a cash out refi on a 1-unit investment property is a fannie/freddie mandate, and if not, can anyone refer me to a lender that works a bit quicker. Every bank I've spoken with won't let me cash out refi on a new appraised value until 6 months from closing. The one's being flexible on time are telling me i can cash out refi on the original purchase price (which does no good since the home was a BRRRR -- original purchase was 70k, and ARV is 125k) Thanks in advance! If i have to wait the 6 i will, but if i can find a lender (property is in NY state) that wont slow me down, then even better! -pete

[THU NGUYEN]

I get away with this rule by creating a private loan (my cash to someone else, who then loan me back), I apply for refi after a week I close on the purchase and got my cash out 45 days after the first close at new appraised value. Maybe try it for the next one.