Investor · Ventura, CA · Member since 2017 · 45 posts · 25 votes
Hey BP, I'm reaching out for some help with lender referrals. My business partner and I are pursuing the BRRRR strategy in KCMO and Indianapolis. We're purchasing SFR's and small MFR's all cash and don't want to wait out the traditional 6-12 month "seasoning" period to refinance. Anyone out there have experience with portfolio lenders or local KC/Indy banks that offer cash out refinancing? Any other advice you can provide on the topic would be much appreciated as well. Thanks.
Rental Property Investor · Prairie Village, KS · Member since 2017 · 62 posts · 36 votes
7y
Research delayed financing and including rehab costs in escrow on your HUD statement. Alex Felice spoke about it on a recent podcast and it sounded interesting.
Guy with Great Hair · Austin, TX · Member since 2013 · 2k+ posts · 4k+ votes
7y
I've spoke and written a lot about delayed finance. It's a fannie mae program for single family homes to remove seasoning periods. There are some restrictions:
You can finance 75% LTV or 100% of HUD1 whichever is lower
Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
7y
@Adam Reynolds It's a misconception that you have to wait 6 months to refinance. Under the Fannie Mae Deferred Finance Program, you actually have 6 months to refinance and if you don't do it in that time frame, you have to wait 12 months. Check the program out.