CASH OUT REFI FOR INVESTMENTS ???????????

[Freddie Williams]

Maybe someone can help me in regards to the best way of doing this. I would like to purchase rental property to hold. So my strategy was to purchase with won payment with a rehab or conventional financing. Most properties I am considering is below market value, around 55, 65 LTV.

Knowing I have to put a 20 % or more down payment to purchase is standard. After closing the property at a later date if not soon obtain a cash out refinance loan. Reason for this is to get my down payment back out of the property in order to proceed to the next project.

Could someone suggest a financing option to achieve this goal. I only found one credit union would do a cash out option but only after I hold the property for 6 months min. Obviously this will not work to quickly grow my portfolio.

Any help or suggestions would be greatly appreciate.