Waiting periond to refinance after Rehab

[Cham Vee]

Good Morning ! NEW Investor here.

I am purchasing an investment duplex with conventional financing with 25% down for a 4.361 % interest rate in San Antonio, TX. The plan is to rehab it and do a cash-out refinance. My question is, Do I have to wait for 6 months or more to do it or any other way to do a cash-out refinance immediately after rehab and renting it out?

Thanks In advance

[Mark Bosworth]

We are in the middle of a refinance on a rehab for a single family property.  Just FYI, the bank would only finance up to 95% of what we had invested in the property (initial purchase price plus rehab cost).  Even though an appraisal of the property would have given us a loan where we got all our cash out of the deal plus extra cash, the bank was unwilling to do this.  They wanted us to have "skin in the game".  We understand that if you keep the property for two years, then the banks will make loans based on appraised value of the property instead of your investment.  So check with your bank about their policy. :)