Refinancing problems - Do I have to wait a year?

[Yoni R.]

I have a few new properties that I bought in cash and I wanted to refinance them now and roll the money into new properties. Pretty much the BRRR method. The only problem is that the mortgage broker that I am working with said that I have to wait a year before I can refinance them. Is this really the case?

To be more specific she said that I can refinance them now for 75% of the purchase price or wait a year and then I will be able to refinance them for 75% of the appraisal price. The other option is HML but they are asking for 9%+2 points at 75% of appraisal...

I would love to hear what our experienced BP members recommend doing? What is my best option? What should I do?

Thanks!