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Updated over 5 years ago on . Most recent reply

User Stats

43
Posts
9
Votes
Nicole Richards
Agent
  • Investor
  • Arizona and Oregon
9
Votes |
43
Posts

6 month Seasoning Before a Refi!

Nicole Richards
Agent
  • Investor
  • Arizona and Oregon
Posted

I am looking for creative ways to solve seasoning issue for a Rehab/Hold property. I found out late last night that our offer was accepted in a bidding war with 7 other offers, and now I have a couple weeks to inspect/close. My plan is to use hard money and finish the rehab in 8 to 10 weeks. I don't want to sit on the hard money and monthly fees till the 6 month seasoning is up before I refi. All you creative people out there, I want to hear your work-around. I will be buying this in title in my LLC since it is a technically a cash closing. I also would love to avoid two closings in 3 or 4 months on the same property.... the thought of all those closing fees twice makes me crazy! This is my 5th deal in a year and half. I have done a flip but not a BRRRR yet which is why I would am asking for your input! Thanks in advance for your replies!

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