Refinancing without seasoning

[David Clinton III]

Hi everyone! I need some advice on the BRRR strategy.

I started in real estate 4 years ago and have been able to do this strategy before with no problems on smaller 1-4 unit multis. I recently purchased a unique 10-unit property that needed repairs before we rented the units. We finished the project on time and on budget last month and it is a fully performing rental now. The problem we are running into is that the hard money loan is due in October (6 months after purchase) and most lenders want to see a 6 - 12 months of seasoning before doing a cash out refi.

What have you guys done in the past to cash out refi larger multi family properties? We're open to creative strategies.

[Melvin List]

You might might to reach out to a broker in your area.  Some lenders are starting to offer this without seasoning but it is not a conforming mortgage.