BRRRR - Credit cards and Cash out Refinancing

[Matt Ellis]

Hi All-

I am kicking off my first BRRRR and am looking to fund most of the rehab using credit cards (0% intro rate makes it a lot cheaper than a short term loan ranging anywhere from 7-15%). Risky but I am ok with it.

My one question is when it comes to doing the cash out refinance at about 6 months, I will have a lot of my credit cards and my debt to income ratio will be artificially skewed because of the rehab costs on the cards (but no different than if I had a different lending source....hard money, commercial loan). The intent will be 100% to pay off the credit cards with the refi..  but will the bankers/underwriters be looking at the debt to income ratio and have major concerns? Everything I see about cash out refinances and  related criteria are geared towards owner occupants, not investors. How much does the criteria change if you are fully leased up and cash flowing?

Any insight would be huge! 

thanks in advance!