Cash out refy reality

[Reggie Maggard]

I am buying a duplex for 74k that supposedly appraises for 119k. I'm currently waiting on appraisal results. I want to get it ready for renting and refy ASAP. Here is my question. Is there a law that limits how soon a lender can give me a loan and therefore I can get my money back out? I hear people say six months to a year. I would think banks would love lending 60 or 70% loans.

[Jason Million]

Reggie Maggard you can do a low doc commercial loan cash out on the property up to 75% of fair market value. No seasoning requirements. So you can recap on you money. Let me know if you have an questions.