Refinance step of the BRRRR strategy

[Keyur Patel]

I am trying to complete my first BRRRR and currently working on doing a cash out refi step of that process. I have spoke to over 30 banks (small banks, large banks, credit unions) but having hard time securing loan with rates below 4%. My credit score is excellent and I bought the property all cash and completed all the renovations with cash of my own. Most banks are requiring the 6 month holding period which is coming up soon. I was hoping to take advantage of the low mortgage rates currently being offered but having hard time finding banks offer below 5%. Is it worth reaching out to non-traditional lenders for refinance loans? I don't have any experience with those types of lenders so not sure what to expect. Any feedback is appreciated.