Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 8 years ago,
Cash-out refi on cash-purchased rehab in Texas
We buy distressed properties for cash and rehab, then after seasoning we cash out and redeploy the capital. The lender we've been using is now requiring 12 months seasoning instead of 6 months as it was in the past. Can anyone recommend a lender/broker who does 6 month cash outs, or sooner? BTW, I'm not interested in the Fannie Mae program where you can get 70% of your PURCHASE price back at < 6 months - I need to get traditional financing where we recover 70% of APPRAISED value, as that's a big part of our equity play since we're buying distressed, rehabbing, then holding for rent. Thanks!!!