Rental Property Investor · Indianapolis, IN · Member since 2018 · 128 posts · 113 votes
Hi,
I currently have 3 SFH that I own the titles to, as well as my personal home, which I am also the title holder.
Through networking, I have come to the conclusion that to accelerate my investing I would like to find a commercial lender that is BRRRR friendly and can offer no or 1-month seasoning periods for refinancing cash-outs, so that I can keep my money free and maintain the ability to acquire more properties, when needed.
Looking around at different banks has presented quite the challenge, though not impossible. Certain that I will find what I am looking for, if I try hard enough. However, BP seems to speed up the process quite a bit.
Basically, just needing to find a lender that can offer decent terms, little to no seasoning for refi's (for deals which I either financed through my personal home HELOC or other funding means), after doing full rehab and getting appraisal, of course.
Any advice or suggestions are WELCOME!
Thanks to anyone who takes the time to offer their two cents or knows of a commercial lender (in/out of state) that could offer the terms that I am looking for.
@Scott D Burrows thanks for posting here. This also might be a good post to put in the Indiana forum. Bigger Pockets has forums that are state specific and you might get some good local responses there. Also, residential lenders do have the ability to refinance with no seasoning. I wrote an entire article on how to properly structure your cash/HELOC purchases HERE. Feel free to tag me with any questions. Thanks!