How soon can I refinance a commercial building?

[Adam Craig]

I am looking to purchase a historic house converted to a 4 unit office building right in great trendy downtown area - I would be converting it to 6 spaces and using one space for my own business. The price is 275K.

I have been getting some push back from the commercial lender I use because the building will be vacant on transfer so it will take a small cosmetic 1 month rehab and some more time to get it leased up. So my DSR had to be good enough to carry the whole loan assuming I get 0 rent which was going to require more down.

I am now thinking about doing what I do with my single family BRRRR. If I purchase this with hard money, how soon can I take it to a bank to get it refinanced? Soon as I have signed leases?

[Stephanie P.]

@adam craig

The finishes may be restricted. Specific colors, flooring, ceiling materials etc... that you may have to put back to period specific after renovation.