Refinance within 6 months or purchase?

[Tuvia Goldstein]

Hi All!

I am involved in my first few BRRRR deals and am realizing that the refi part of it isn't as simple as I thought. It seems that many banks dont allow for a refi within the first 6 months. Some allow for what they called delayed financing - which means you can only get financing on the cash that you put into the deal, but not more...

Does anybody have a good connection of a lender that specializes in getting good terms and rates on a refi within the first 6 months? I'm in touch with a few people, but wanted to see if the forum had any insight on this. Is it reasonable to expect to find a conventional method with low interest rates within this period of time?

Thanks!

[Andrew Syrios]

There are some national SFH lenders like Lima One Capital and A10 Capital you can look into, although they will usually have a decent number of points and higher rates. We've had the best luck with community banks. Many won't be interested, but some are. And you only need to find one.