All Forum Posts by: Tarik Turner

What is the name of the city and county where the property is located

Welcome to the forum and I look forward to connecting. (Also in the NYC Area)

There are lenders who can cash out refinance a property after 30 days of ownership based on the appraised value not purchase plus rehab so again it really depends on the lender that you are dealing with and their seasoning period

It differs based on the lender that you are working with but a cash purchase and a financed purchase doesn't change seasoning periods.

With that said there are lenders who can refi before 6 months

If you found a property in which the loan amount would exceed 50k with rehab costs included, that would also work

Just search Dohardmoney on BP there are a ton of reviews .. not all of them are positive

What is the current value and and current interest rate? Are you currently in a Hard Money Loan?

There are 30 year fixed term commercial loans available as well if your true intent is to keep long term.

Those loans can carry a 5 to 7 year pre pay

In short that answer is absolutely yes. As long as you are able to gain access to the property for an appraisal 

Waiting until it is rented is usually the best bet. Most lenders want to see a certain occupancy rate prior to refinancing the property, while others will refi it vacant at a higher interest rate

Also depending on the type of  property your rental income plays a major role in the evaluation process by the appraiser