All Forum Posts by: Vaibhav Verma

@Timothy Maloney, thank you for your reply! I didn't know much about HML. Upon research, I found out that it may be a good option for a short term/rehab project because of higher interest rates as you've mentioned as well. I plan to hold on to these properties long term for cash flow purposes. I guess my only option then is to wait out the 12 months frame from the purchase date?

Hello, I recently purchased a rental property and put it under my LLC. It's rented out and is cash flowing. Property also appraised at around $15-20k higher than the purchase price. It's been 5 months since the closing and I am looking to purchase another one using cashout refinance. Wondering what's my best bet as I had contacted a local bank which only willing to do it on the purchase price. That of course defeats the purpose and another big name national bank is willing to do it on the appraised price but there's at least a 12 months waiting condition. Open to any suggestions!! Thank you!