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Updated over 6 years ago,
Alternatives to waiting for the hold period after BRRRR?
I just purchased an all cash deal that I'm rehabbing and will have an ARV that I'll be able to finance and get back my initial investment (LTV 75%). I purchased the property and fixed it up all in cash, but in order to finance it to get my investment back, I believe I'll need to wait the minimum settle time which is ~6 months. I was able to purchase and rehab within a few weeks time, and I'd like to take advantage of that and move on to the next property. Is there anything I can do here to get financed sooner than the typical 6 month settle period? I realize I can just wait it out and cashflow nicely, but I'd like to get the ball rolling on additional properties here at the beginning (happy to hear arguments for/against that too, btw).
The solution I was thinking of was to do some sort of intermediate loan with private money until the 6 month period is over and then go with traditional lending at that time. I'm sure there are other creative ways to do this, so figured I'd ask!