1031 Refinance under 6 months in California

[Anthony Wright]

Good Morning,

We just currently purchased a 16 door apartment complex with 1031 exchange money and closed about June 20th. We are looking to build two more units on a vacant lot on the property as well as buy an additional duplex that is across the street. We are also looking at buying another  2 units about 30 mins away.  Can anyone help out with some guidance in doing a 1031 Exchange refi with in a month or two of the closing. I have been reading that you are supposed to wait up to about 6 months before the refi, but also have read if you have a business plan on where the money is going to be spent that it’s doable without  a red flag going up. Any help is truly appreciated. 

Thanks

Anthony