Refinancing to pull out equity

[Caleb Mclamb]

Hello BP, 

Ive done some site research and see related topics but not this question.

I am researching using a conventional loan for an investment property with approximately 20% down payment. That 20%down payment will be made by a local investor who has never invested before.

Can i pull all 20% back out to pay them (plus their interest) after the seasoning period or am I being unrealistic?

ie could i offer them something like 10% on their money for a one year investment or is it harder to refinance than you would think? I deffinitely want to build strong relationships and not "play" with other peoples money without full confidence.

Thank you

Caleb Mclamb