BRRRR - Delayed Financing vs. Cash Out Refi

[Mike Rutherford]

I'm analyzing my first BRRRR project. I found a bank here in town that will do a variety of portfolio loans. I was explaining the project and asked how soon I could get my cash back out assuming I had more than 25% of final ARV. She said delayed financing and cash out refi were basically the same and I had to wait six months. It's not a deal breaker, but I would rather have my cash back out immediately if that's an option. From the podcasts I've heard and the posts I've read, I'm assuming that is an option. Can someone help me out here? Or at least explain the pros and cons of each? Thanks much.