All Forum Posts by: John Lopez

@Jacob Ghena,

I just did a quick read through the Fannie Mae guidelines. It appears that you are right.  If I want to stick with conventional I will need to wait 6 mo (per B2-1.2-03 Cash-Out Refinance) Thanks.   

Greetings, 

I am about to begin a BRRRR project. I am closing with a cash purchase and I expect to complete the renovations and have the unit rented within 60 days.

My current lender will do a cash out refinance 6 months after purchase (with a conventional 30-year), but I've heard of some banks being able to do that a little quicker.  Does anyone know of any finance options that get my cash out quicker?  The home is located in the Charlotte, NC market. 

Thanks,

John    

Hi Gerald,

I'm live over in lancaster county, but i'm close to the county line.  I have one rental prop in lancaster co and one in york.  I have not found any investor groups that focus on the "near charlotte" SC market, but I have several friends that invest in these areas and I have thought about launching our group. 

I'll give you a shout if we get something going.  

I currently have one investment property that I have been successfully managing myself for the last four years. I am ready to expand my portfolio and reach financial freedom. My current goal is to reach a passive income of $5000 per month in 8 years. I believe the best way to achieve this is to buy and hold single family homes, but I am certinaly open to alternatives