BRRRR-Friendly Banks in Maryland

[Dennis Bates]

Hi All- I have a few buy-and-hold properties in Baltimore, MD (purchased the "slow" way, by putting 15-25% down). For my next property, I'd like to try the BRRRR strategy, however I am hung up on the refinance step. The banks that I have spoken with so far all have only offerred conventional cash-out refinance options where I would have to wait a full 6 months to refinance. The commerical lenders that I have spoken with in the area have said that they would not normally be interested in funding a commerical loan for just one rental property.

Does anyone know of any lenders that would allow me to get a cash-out refi sooner than 6 months for a BRRRR deal?

Thanks,

Dennis B.

[Joe Norman]

Check out Kopernik Bank or Eastern Savings, both have a reputation for being flexible and investor friendly. I did a BRRRR Cash Out w/ Eastern Savings a few years ago and it was effortless. Scott Frietag was my LO, shoot me a PM and I'll send you his contact info.