When can you borrow against a property?

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We closed on a multi-unit building last May. All the units are rented and have a current lease in place. When is the property available to borrow against for a new purchase?

If there is no existing lien on the property, then there is probably someone who would be willing to do it now. Others will like to see around a 6 month history. The difference in the end may be a slight reduction in rates based on history. Most cash out refi's will give you up to 70%. Unless owner occupied, which it does not sound like this is the case.