Seeking advice for cash-out refinance options

[Aaron Yang]

Hi, I am an out of state investor from California investing in Jacksonville. I'm closing on a property this week that I'm planning to BRRRR with. I've contacted a few credit unions in town and none seem willing to lend to an out of state investor for a cash-out refinance.

What are my options? Do I need to just find a national bank or portfolio lender at this point? I'd like to avoid that as there are higher interest rates but if that's the only option, I'll bite the bullet.

Any out of state investors here with the same experience?

[Phillip (CJ) Yu]

After researching Fannie rules, I realized I had to wait for the full 6 mo before refi can happen.