Cash out refinance after renovation

[Nathan Waters]

How long are you waiting to cash out refinance a renovation? I know most banks require 12 months of seasoning and some flexible lenders will allow a 6 month seasoning period to allow for a higher appraisal value following renovations. Has anyone had luck refinancing earlier? I am on my third value add rental home using the BRRRR strategy, but if I really want to scale up faster, I can't wait 6 months. I feel that I could put together a larger portfolio in a quicker time frame if I had some better options for cashout refinancing. I use a local lender now but I would like to get some more lenders in my network.

On another note, how many properties are typically required before you can get a portfolio loan? I have 4 rentals but I think it is a bit premature for a portfolio loan.