Advice on Cash refi options?

[Martha Daisley]

Hi everyone

I have an investment property that im getting with a line of credit and then i have to cash refi it soon after. The problem is that it looks like the banks all want to do only 70% and some wont even do LTV but just 70% of the purchase price. This is going to essentially leave me with 30% out of pocket even at LTV as the property doesnt have a whole lot of equity. It has great cashflow potential though, its a buy and hold.

Does anyone know of any banks that will do 75% LTV cash refi without the seasoning period and at a good rate? I know i may be asking for the world lol.

The other option is to do a cash refi (or a heloc , though i heard helocs on investment properties are hard to get) on another property that i have which has tons of equity. I didnt really want to resort to that but i want to lower the amount i have to come out of pocket as much as possible.

Any other suggestions on how to handle are welcome.

Thanks!

Martha