BRRRR timeline to refinance

[Mauricio Quintana]

Hi,

I have a property that has been rehabbed and i wanted to refinance out. I talked to a lender who said in order for the property to be refinanced, it has to be 6 months since i originally bought it. In order to refinance and pull cash out, it has to be 12 months since i originally bought it.

Has anyone come across this or an i just needing to look at a different lender? I've never done BRRRR but have certainly done my fair share Of research on the topic. Having to keep the property this long seems like a pretty big step that would have been mentioned in the forums.

Anyone out there with first hand expert be that can shed some insight?

Thanks in advance!

[Chris Mason]

Originally posted by @Mauricio Quintana:

Hi,

I have a property that has been rehabbed and i wanted to refinance out. I talked to a lender who said in order for the property to be refinanced, it has to be 6 months since i originally bought it. In order to refinance and pull cash out, it has to be 12 months since i originally bought it.

Has anyone come across this or an i just needing to look at a different lender? I've never done BRRRR but have certainly done my fair share Of research on the topic. Having to keep the property this long seems like a pretty big step that would have been mentioned in the forums.

Anyone out there with first hand expert be that can shed some insight?

Thanks in advance!

Texas has a bunch of wonky state-specific cash out refi rules. @Andrew Postell can probably provide an accurate answer.