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Updated over 1 year ago on . Most recent reply
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Cash out refinance - BRRR
We are nearing completion of our first rehab on what will be a rental property. We paid cash for the transaction and financed the reno with cash. Now, we need to cash-out so we can do it again! We are in Columbus, Ohio and we're looking for recommendations on banks/lenders to check out for this type of mortgage product. We need a 30 year fixed loan and can leave 25% down. Any suggestions? I have gotten conflicting information regarding this process. Some people told us that we must wait a 6-month seasoning period. Others say 4 months. Still others say that since we paid cash there is NO seasoning period. Any insight on that?