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Updated over 3 years ago,

Account Closed
  • Investor
  • Newtown, CT
10
Votes |
15
Posts

Cash Purchase - Do I need to wait to get financing?

Account Closed
  • Investor
  • Newtown, CT
Posted

I bought a few multifamily houses for cash a couple months ago. (cash no hard money) 

They were distressed assets that needed to be rehabbed, the work is now said and done, they are ready to be appraised. 

I was told by one mortgage broker that I need to own each property for 6 months to get my money out. 

I'm looking to get normal 80% LTV residential mortgage's (All 4 units and less)

Properties are in connecticut if that helps, anyone have any recommendations on financing options or if this information is true about needing to wait 6 months? 


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