How soon can I c/o refi a home that I'm rehabbing
In lieu of drumming up cash elsewhere I'm looking at cash out refinancing a home I'm currently rehabbing. I'm not overly concerned with max ARV at this point. Numbers: 113k purchase, ~40k rehab, 300k ARV.
I have ~20-30k on hand to do the rehab, but I will run out of cash before the deal is fully rehabbed. As such, I'm curious to know the bare min that I need to do to get me to a rehab to help me finish the rehab.
I'll do a HELOC when the house is fully rehabbed, at which time I should be able to have an appraisal done that fully respects the projected ARV.
I hope this makes sense, thanks for any insights shared!