When is the best time to Cash Out Refi

[Jonathan E Francois]

Hi, I plan to cash out refinance a small multifamily. I heard that it's best to get the units rented out prior to approaching a bank to cash out refinance or can I do it after the rehab is complete?

Any local banks recommended to refinance?

[Jack Mawer]

Like Charles mentioned, I think the best thing to do here would be to put tenants in there and get a few months of seasoning in before you refinance - this will make the refinance process smoother and most lenders like to see a lease in place on a refi especially if they are qualifying you based on the rental income.