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Updated about 8 hours ago on . Most recent reply

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Advice needed: How to cash out refi after owning for only 2 months?

Kenzie Carlstrom
Posted

We have 6 deals under our belts, 4 of which were buy, fix, hold (conventional financing). 2 were buy, fix, sell (hard money). We are one month into fixing a project house (hard money loan), we have decided to refi it into a rental. Lenders are saying we cannot cash out refi immediately after owning for only 2-4 months, how are y'all cash out refinancing after flipping? Are we overlooking a hack? We understand that we can refi, and then pull the downpayment out with a HELOC, is that what y'all are doing to buy the next flip?

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Kenzie Carlstrom
Replied

@Jaycee Greene just met with Mid Oregon credit union, they do cash out refis with no seasoning period!  

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