Ruralish Rental near Telluride for refi

[Rodney G.]

I wouldn't post this but rural lenders are difficult. 

Property is off a cistern and certified spring. Has propane and electricity. Year round access although 4wd is needed in Winter even though it's plowed. 

Just off of highway 62 between Telluride and Ridgeway. Used hard money and have finished remodeling. Bought for  $430k for 3200 sf and 40 acres. Three rentals on property. We have a lot of interest and expect 4k a month but haven't signed any leases yet. 

We've had it for one month and would like to refi it. I expect it'll appraise around $650k. Would love to refi cashout on appraisal but I know that isn't likely. Refi off purchase is good enough.

Me
120k yearly
740ish fico

Thanks in advance for any suggestions or upgrades I can make to the property. and

Thanks in Advance

[Mark Simpson]

Rodney, impressive work with the discount off list price...they were tired obviously, way to snatch it up!  I suspect Alpine or Community Banks are your best local chances, but based on my experience definitely will have to go on purchase price, and if not owner occupied Alpine might only do 65%.  Obviously won't know til you ask.  I suspect to use appraisal value you'll have to wait at least 12 months and have several months of it tenanted.