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Updated over 6 years ago,
Questions about BRRRR strategy and 6 month seasoning
Hi all,
I understand why you can't get traditional financing on a house that is in disrepair. But let's say I use hard money to buy and rehab a property, with the intention of refinancing with traditional financing after a tenant is in place. Is there a 6 month or 12 month seasoning requirement for this? And if so, why? To the bank I am refinancing with, I've just showed up with a property in excellent condition, so I am not sure why I would have to wait 6 months or 12 months to refi. What am I missing?
Thanks