Creative Ways To Offset An Interest Rate

[Michael Wallimann]

Hello Bigger Pockets Community! I am a newbie who is getting closer and closer to my first deal. I am shopping small multi family residences at the moment. I have been approved for a HELOC which I will be using for my down payment. I am planning to use the BRRRR technique on the property. While I'm hoping my rehab will be done in 2-3 months I have just found out that in the area I am looking to invest I have to wait 6 months to refinance. Depending on the price decided upon after my offer is submitted this 6 month wait could cost me somewhere between $18-25,000 in interest on the HELOC. I'm curious if anyone has some advice on how to creatively offset the cost of the interest payment during this waiting period on the refinance?