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Updated over 6 years ago,
BRRRR - Refinance before Rent if no seasoning period?
Hey BP,
I'm new to the forum. Long time listener/lurker, first-time poster.
So I'm in the rehab stage of a BRRRR and thought of a question regarding seasoning period.
I talked to my lender today, and they don't require a seasoning period before refinancing. (I made sure he understood what I was asking)
So, typically you would Rent then Refinance, right? In my situation, am I gaining anything by renting it before refinancing?
My thinking is, the house will look its best right after rehab and maybe not after a tenant has been living there.
Also, it feels a little weird to tell my brand new tenant that an appraiser will be coming through the house right after they moved in.
I'm assuming that people rent before refinance simply because they have to wait 6-12 months to refi.
The property is a single family rental. I guess I could add that this is my 3rd deal, first BRRR.
-Wyatt