Delayed Financing / Foreclosure Refinance - Best Practices

[Peter Lysiak]

Hi, I'm currently looking into buying a foreclosure property to add to my portfolio and am wondering if the community can share some best practices on the process. After purchasing the property from an all cash sale, what are my options to pull my equity out? Based on research, I've seen the choices as the following:

• DFE (delayed financing) after 6 months to take the lesser of the original purchase price or 75% of appraised value 
• DFE (delayed financing) after 3 months to take the lesser of the original purchase price or 70% of appraised value
• HELOC on the purchased property for the appraised value

Can anyone validate these, or provide additional guidance? Would love to hear from people who have done it before. Thanks!