BRRRR Refinancing help Miami

[Guillermo Triana]

Hi BP,

Looking to line up my first BRRRR in Miami FL ( planning to use HML, planning to sec 8 it, got a good handyman team). Im having trouble finding an investor friendly local bank for the cash out refi piece. Some want a 12 month seasoning period, some are only offering 65% LTV, some are only offering LTC.

I would greatly appreciate a recommendation to a local south florida bank that is investor friendly and has good terms.

[Elise Marquette]

There's a couple banks I've worked with in the past that don't require seasoning but the terms aren't quite as favorable- however Fannie Mae allows you to do a cash out refi based on 70-75% for a Conventional loan after 6 months seasoning