Refinancing on BRRRR property

[Richard Moreno]

Hello BP,

I am at the Refinance part of the BRRRR, and I was trying to find a lender that can cash out refi with no seasoning period ( I've only owned it for 2 months ) on an SF investment property I have in Pittsburgh. So long story short I found a lender that I follow on Instagram that uses private lenders for refinance deals and other flip deals etc. They can do 70% ARV with an adjustable rate after 5 years at 8.4% interest rate ! I think that's pretty high! But they base it on my credit and its an investment property.

I think the interest rate is high but its not a deal breaker, the good thing is that there is no seasoning period and they can cash me out in a few weeks. The property is about $90k ARV and I have about $75k in the deal, and we got it rented for $1100 a month.

Any advice ? should I take the 8.4%