Is 80% LTV Cash Out possible on a new BRRRR rental?

[Josh H.]

My wife and I just completed a full renovation of a four bedroom three bath single family home in Baltimore. 

We were planning on selling it but are leaning towards keeping it and using the BRRRR method. We have excellent credit. We're looking to get out as much cash as possible, is 80% possible? There isn't a lease on the property yet but I'm sure there would be quickly because everything is new including all new plumbing, electrical and HVAC.

[Nicholas L.]

@Josh H.

i think it's possible, but you might have to call a whole bunch of lenders, and try both banks and DSCR lenders. you might also have to wait until 1. 6 months from purchase and 2. until it's leased. for example, someone might offer you 70% cash out now if it's vacant, but 75-80% if it's leased out and you're 6+ months from purchase date.

so make a whole bunch of calls and see what you get offered.  I recommend The One Brokerage, David Greene's company.  I'm not affiliated with them or sponsored by them in any way, they're just easy to work with and will shop your deal around to try to get you multiple loan offers.