No seasoning cash out refinancing
Any cash out refinancing options that would not requiring seasoning?
From my own research this is unlikely. At best I've seen 6 month seasoning periods.
I am targeting properties that have been on the MLS for longer than the average. Hopefully purchase for a discounted price. I'd mortgage them. Do a light rehab to increase ARV. Refinance and pull my down payment back out to start the next. Pretty much a classic BRRR.
I'm hoping not to have my down payments tied up for a 6 months to a year before I can repeat the process.
Any help and advice is truly appreciated.
Most Popular Reply
Hey Sean,
Should have quite a bit of DSCR options at 90 days, or even less. Especially if you have done even a little bit of work to the property.
Just keep good records/Scopes of Work on your rehab as some groups might limit you to a certain percentage over your cost (say 120% of cost basis), but still enough usually to get DP back.
Happy to connect to talk through it if you are interested.
Good luck!