Cash out refinance help for multi-family

[Khizer Husain]

Hello, hope you are well. I am purchasing multi-family properties at distress prices or rehabbing them. Most banks require you to hold onto these properties for one year until I can get my equity out and limiting it to LTC. I want to refinance immediately after 3-4 months or even after one month of purchase based on appraisal value and cash out ideally over and above my down payment paid as well. What is the best way to go about this? I’m buying $1 million+ Properties ranging from 2-50 units. Here is what I am planning now:

bridge loan to acquire properties - refinance via bank note - after one or two years go to agency loan to get cheapest interest rate. 

thank you

[Alex Bekeza]

@Khizer Husain Cash Out Refinances in general, whether you're talking about 1-4 units or 5 +, are seeing the most "post covid" restrictions/tightening of any transaction type.  That being said, since you're doing these in batches, there are definitely options to do this at the 6 month mark and not have to wait 12.  I think anything shorter than that would likely only be available in special cases when you have a depository relationship with a local bank at this point in time. Would you consider blanketing several multis together? What cash out leverage do you need to make the deals work?