Private money for cash-out Refi?

[Wouter Ceyssens]

Have or do people use private money to do cash out refinances on investment properties?

I’m looking at cash purchase of a Small duplex, with initial plan to cash out refi after the mandatory 6 month seasoning period. However, I’ll be limited to 70% cash out refi by FannieMae rules, and prob looking at 6% refi rate from the bank.

But what if I could find a private money source that would do a private cash out refinance, it would give me the option to do 80% LTV and maybe down to 5% rate??

Thoughts! Thanks!