Delayed financing w/ for more than original purchase price?

[Ryan Daigle]

I'm investigating delayed financing options for a BRRRR property and have run into a little hiccup - wondering how others have dealt with this. Basically, unless you're willing to wait for a 6 month seasoning period, it seems like the requirements are that your delayed financing loan amount cannot exceed your original cash purchase price (plus escrows, closing costs, etc...). This seems quite limiting if you're trying to BRRRR a property in under 6 months since so much of the out of pocket expense are the rehab costs which you aren't able to refi out of.

Is it really as black and white of a choice as 1) wait 6 months to pull out the full 75% LTV or 2) if under 6 months only pull out the original cash purchase amount?

I heard a podcast this weekend with a guest from Ridge Lending Group that seemed to imply if you documented something the right way on your closing statement that they could then let you do a delayed financing for the purchase price plus rehab costs (still under 6 months). Does that sound familiar to anybody?

Thanks for everybody in this forum already for even getting me to this point!