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Updated almost 4 years ago,
Convention Loan Seasoning Period Prior to Cash Out Refinance
I am planning to use conventional financing with 20% down to purchase my first rental property. Plan is to allocate 1-3 months for rehab, rent, then refinance. Standard BRRRR. Assuming I did my research/math right and ARV gives me appropriate amount of equity to pull out most/all of my cash, will lenders allow me to refinance in less than 6 months so I can use the cash as down payment for next property?
Open to suggestions with entire plan above as I am “unconsciously incompetent” at the moment and excited about moving to the next quadrant. Thanks! 😁