BRRRR and refinancing sooner than 6 mo.

[Charlotte M. Varble]

I was told by a lender that due to regulations with Fannie Mae and Freddie Mac, I cannot refinance on a property with a cash out until I’ve owned the property 6 months. (I can refinance sooner than 6 mo but only for the payoff amount.)

Our strategy was to refinance within about 3 months and use the cash out (the difference between what we owe and about 75% LTV) to put into our next property and keep acquiring at a decent pace.

For those who are doing BRRRR, are you refinancing with a cash out before 6 months? If yes, than how are you doing it?