Does 75%ARV Cashout Refi 3 month or less seasoning 30YF exist?

[Frank Profeta]

Looking for a Lender.

Does 75%ARV Cashout Refi 3 month or less seasoning 30YF exist?

I usually buy cash, do my reno, but I want to hold for rent and cashout to build a solid rental portfolio.

Any help or advice would be appreciated.

[Darren Budahn]

@Frank Profeta

You can look up some threads here on BP for more information. But basically if you are able to buy at a significant discount it may be an option for you. IF you buy all cash, you are able to recoup all of the purchase price and closing costs (Not Rehab Expenses) with no seasoning as long as the property appraises at say 75% LTV. So if you buy all cash for 75k, get an appraisal for 100k, you can get all your cash back right away without having to wait 6 months. Now if you spend a ton on repairs you will have to wait to refinance to get that money back.