Investor · Columbus, OH · Member since 2015 · 70 posts · 30 votes
My question is regarding conducting standard cash-out refinances on properties. Per my understanding, the HUD / settlement statement needs to document not just the property purchase funds, but the escrowed rehab funds as well. What happens in the scenario where a proper walkthrough of a property to arrive at a rehab estimate cannot be made in time for closing on the property purchase? Does it adversely affect my ability to do a cash out refinance if I do not include the rehab funds on the HUD?
After 6 month of initial purchase you can cash out on market value. If you are cashing out within 6 month, will be able to cash out what your HUD settlement report showing.