Advice: What to do in-between seasoning?
Hello and good day all,
My plan and issue is as follows.
I would like to move to South Dakota and buy a property to BRRRR. Getting the property, fixing it, and renting are all good.
My question is with the refinancing. From what I have gathered you are stuck with a minimum of 6-12 months of seasoning if you would like the refi to be based on a new appraisal price and not the initial purchase price.
So, my issue is if I fix a property in 3 months and its now rented out, what do I do?
I would like this to my be my full time job once started, but if I have all my money tied up in that property I cannot then move onto the next property. If I am stuck waiting for 3-9 months, that seems to necessitate either being an independent contractor for a while or go work for a company, which I would rather not do as it would be temporary and doesn't seem right just to start and stop on somebody.
If you need more information please let me know. I am just wondering if there is an alternative with financing or otherwise I have missed or not understood. Any advice is most welcomed.