Refinancing Rental Properties

[Bryce Kammerzell]

Hello BP Family, 

I have a couple of rentals in Kansas that I own outright, I bought them with cash because at the time I wanted to reduce risk and simply get into the game. Now that the properties are cash flowing well, does anyone know of any good lenders in Kansas or online lenders who will refinance the property so I can pull my capital out and reinvest it into buying more rentals? FYI - I haven't owned them for 6 months yet. I have already checked with a few banks and online mortgage institutions and it seems like many of them want you to own the property for at least 6 months before refinancing and pulling money out. Does anyone know of any banks/credit unions/online institutions who will refinance sooner? 

Thank you!

[Alex Olson]

Originally posted by @Bryce Kammerzell:

Hello BP Family, 

I have a couple of rentals in Kansas that I own outright, I bought them with cash because at the time I wanted to reduce risk and simply get into the game. Now that the properties are cash flowing well, does anyone know of any good lenders in Kansas or online lenders who will refinance the property so I can pull my capital out and reinvest it into buying more rentals? FYI - I haven't owned them for 6 months yet. I have already checked with a few banks and online mortgage institutions and it seems like many of them want you to own the property for at least 6 months before refinancing and pulling money out. Does anyone know of any banks/credit unions/online institutions who will refinance sooner? 

Thank you!

What part of KS? KC area? Try John V Doull at cornerstone bank. They are aggressive in financing investment properties.