Live-in Flip & Cash-out refinance

[Heeyeon Chung]

Hi BP!

I am curious to know if anyone has done cash-out refinance after live-in flip of their primary residence. I see many successful stories of live-in flips and selling them, but I want to know if cash-out refinance can be a viable option. 

I am eyeing on a property to use it as a primary residence, but it needs upgrades and improvements. My plan is to buy it with VA loan, upgrade it, get a new appraisal, and refinance it after taking cash out using VA cash-out refinance.

Please let me know what your thoughts are! Thank you!