Bank refinancing question

[Nicholas Preston]

I went to a bank today and I basically want to perform the refinancing part of the brrrr system. The banker told me I had to own the property for a year before I could refinance at the appraised value of the house. I could refinance anytime at the purchase price however. My goal is to fix up and refinance at a much higher appraisal value as opposed to sell price. Do all banks require a hold for year clause to refinance at appraised value? Is there a better/ quicker way to get my money out to reinvest before then? Thanks!!

[Upen Patel]

@Nicholas Preston Find a new banker. The seasoning requirement for a cash-out refi is 6 months.