Wait to Refinance, or do it now?

[Bryce Nurding]

Hello,

I bought a duplex in Pensacola $75,000 under appraised value, in an amazing location. Bought it for $300,000, it appraised for $375,000, and the gross rent is $2,625.

My lender only lets me pull out 80% of the purchase price right now. $240,000. But if I wait another 3 (1/2) months, I can pull out $280,000, because I can go off the appraised value then. Interest rates decreasing a little more will be necessary to make this possible, too (DSCR loan).

Also I will have another deal refinanced by then and gain about $70,000 of capital from refinancing that. So, by waiting until approximately February (time for everything to stabilize and to pull funds out), I can have an extra $110,000 of investable capital.

Thoughts?