BRRRR w/ a Conventional Loan

[Account Closed]

Hey there BP,

I just bought my first SFR with a Conventional Loan (20% Down, 30-year, Fixed-Rate) and will have some great equity through the recently completed rehab of the property.

I've noticed that when the BRRRR Strategy topic is covered on the podcasts and blogs, it seems that the most common practice for the Buy section is to use Cash or Private/Hard Money- I haven't heard or read of anyone buying a property with a Conventional Loan, then after the seasoning period, Refinancing it. 

I would love to start utilizing the BRRRR Strategy on this first property so that I can start picking up more properties- is there any reason I shouldn't convert my Conventional Loan to a Cash-Out Refinance?

Thanks everyone!

[Harjeet Bhatti]

@Alex Kies  This will work same way as any other loan.  You have to wait 6 month seasoning period to cash out.