Brrrr Refinancing Options

[Eric Ortiz]

Hello BP community

I recently purchased my 1st Brrrr project in Indianapolis.

I have Bought it outright , finishing rehab. 95% of my liquid is in the house.

So I am having a hard time finding a lender with my limited Liquidity and 40k 1099 that I pay myself Fico 670

Hoping to cash out and purchase another Brrrr

Trying not to wait 6 months seasoning owned almost 3 month

Any help would be greatly appreciated 

63k PP 25k Repair 125k Arv

Thank you in advance

[Jaysen Medhurst]

At this point, @Eric Ortiz, I think your expectations are unreasonable. Very few banks have seasoning periods shorter than 6 months. Any lender at least expects the renovation to be finished before the new appraisal. Your situation really doesn't give the lender any flexibility. You're asking to "break" two rules (seasoning period and the fact that it's not rented yet) without offering any additional assurance (like a good credit score, decent income, track record).

I think you should ride out the process, get the property cash flowing, and bring that success to the bank.