Cash-out Refinance - Live deal question

[Mike H.]

Hello all,

I have a financing question for one of my exit strategies in a potential investment I am looking at. I would be grateful for your help.

- If I were to pay all cash for a townhouse, put capital improvements and acquire appreciation how long from the day I purchased the townhouse would I have to wait until I could reappraise and finance? Would it make a difference in time if I were to convert the townhouse into two separate condos? Obviously I am speaking after the rehab and conversion are completed. I am just unfamiliar with financing laws...

Thanks,
Michael