Do Leases Need to Be Seasoned for a Cash-Out Refi?

[Jason Merchey]

Does anyone use a bank that doesn't require much "seasoning" of the leases on a triplex? I am just now finishing a redevelopment project and am considering doing a cash-out refi loan. I was thinking it could be 4% for 30 years with 30% down, but am not sure if the leases definitely need seasoning or not. In case you can't tell, I'm not experienced with loans and definitely not refi's. Thanks!

[Cameron Tope]

Hey Jason,

I have purchased many rentals with leases in place, leased up properties prior to the final step of BRRRR, and no lender has ever asked me about seasoning my leases.

The lenders I've worked with only cared about seasoning the original mortgage.