Looking for a Brrr lender

[Sabrina Morgan]

Hello,

I'm purchasing a pre-foreclosure with cash using a BRRRR strategy. The lenders I've found will only refinance up to 80% of my acquisition cost, but I'm looking for a lender that will lend based on the property's appraised value so I can recover more of my capital for future projects.

Does anyone have recommendations for lenders that offer appraisal-based cash-out refinances with little or no seasoning requirement for investment properties?

Thank you!

I posted in the general area, so hopefully it's okay that I'm posting here.  I don't see a way to remove my other post.

[Stacy Raskin]

There are options with no seasoning from DSCR lenders to use the new appraised value for a cash out refinance when paying off a hard money loan. If buying the property in cash, three months will be the minimum seasoning or waiting period I have seen and 6 months seasoning will get you more DSCR cash out refinance program options that will use the new appraised value.