Cash out Refi - Rental property, questions

[Jordan Albright]

So I have done some research on this but wanted to see if anyone had any Tips. 

Situation: I bought the home for 250k. It is currently under renovation around (50K). So all in 300k. I plan to rent it out in a couple of months when the rehab is done. I would like to Refinance it to pull my (50K) back out. I believe it will have an ARV of around 315k. So my questions are:

1. Do I wait until it is rented to get it appraised and refinance it like the BRRRR method? Or refinance it after the rehab is done?

2. Is there any other fees minus the funding fee I have to pay when refinancing? 

3. Is it worth is to use a property manager? Do you recommend an online one? or Traditional local PM company? I understand I will be paying a premium. 

This is my first deal! It wont be a crazy money maker but it will be a foundation to start buying more. I appreciate all and any advice!

 

[Tarik Turner]

Yes waiting until it is rented is ideal. You tend to get better terms on a fully rented property rather than one that is vacant.

All fees associated with any loan would have to be paid including but not limited to

• Appraisal
  
• Underwriting
  
• Origination
  
• Title

In regards to property management that would be up to you to make that call based on other operating expenses and your own personal availability. With only one property under your belt it may not be needed right away, however being a landlord without property management can be a job