Cash Out Refi with a twist??

[Eric Coats]

I have a LTR property under contract that needs more rehab than I want. . I planned on getting a conventional loan and putting 25% of the purchase price down. I asked after I rehab the property, can I do a cash out refi. I was told yes, but I have to wait a full year. I'm guessing I need to put an additional $50K for rehab on top of my $50K of down payment. If I did a refi based on estimated ARV, I would only need to leave $25K in the deal. I just don't want to wait a full year for that. Any other ideas or options. I even asked if I could buy it with cash, then refi and was still told I need to wait a year form the purchase date or else they will still use the purchase price.

Could I purchase the property under one entity then sell it myself to another entity in the name of a partner?

[Jay Hurst]

Quote from @Eric Coats:

Quote from @John Vietmeyer:

There is a cash buyer exemption to the conventional loan seasoning rules. Doing this now and getting 100% of the purchase price + closing costs back without waiting on seasoning.  Educate your lenders on the rules.  

 Thanks John, any suggestions on where I can get information to inform my lender

 It is called "delayed financing".  any LO should understand it. https://selling-guide.fanniema...