80% LTV Duplex Cash out refi

[Aaron Gallington]

New here on forum, so hopefully this is the right place to post.... My basic question is does this exist?

When I purchase my rentals, I have/use a large HELOC that i have on my primary residence to pay for the investment property in cash and also use the HELOC to renovate the property. Then the idea is that i will have the equity in the home after renovation to use as my "20%" when I refi, get the 80% back in cash and pay off my HELOC with it, then do it again. It usually works out that way, or i end up coming up with a smaller amount in cash to supplement.

The property: I have a duplex that i purchased in Washington end of last year. Paid $270K for it initially with my HELOC and used an additional $70K from my HELOC to renovate the property. I had a couple market studies done by some real estate friends and property after renovation should appraise at $425K or more when i refi. Both units are rented out at this time, for a total rental income of $3,600 per month. In about a month i hit my 6 month seasoning date to be able to do the cash out refi. 

I have a few single family homes that i purchased in the past couple years that i did this same concept on with purchasing/financing, remodel, and refi, but want to know if there is anywhere i can do the 80% LTV on a duplex. This is my first duplex and everywhere i have checked so far is saying they do 70% LTV on a duplex investment property. I would really like to do 80% LTV if i can find anywhere.

Any input or insight is appreciated!!