Brrr Seasoning Period

[Derek Rhodes]

I have just purchased my first Brrr property and am wondering what strategies are out there to get around waiting six months to refinance and get my capital back out of the project.

I talked to a lender that will finance earlier, but only uses 5 year balloons and with the market the way it is I am not sure I want to go that route.

I also found that I can do a delayed financing and get my initial purchase price back right away, but am concerned about having to pay closing costs twice. Once on the delayed financing and once when we would refinance for the total investment (purchase price plus rehab cost).

Any suggestions would help!!