All Forum Posts by: Matt Wells

@Joe Villeneuve I can get the home a lot cheaper from a wholesaler rather than the MLS. Wholesalers don't want to wait around for conventional financing. Strategy is to buy with a cash offer to get a deal, then place it in conventional financing.

@Joe Villeneuve I think I get it now, I only intend to get around 75% of my money back. Not the full amount.

@Joe Villeneuve Sorry I am confused. I want to cash out refinance a paid off house before 6 months. So I should get 75% back what I paid for the house when I cash out refinance right?

Not sure where the rate and term is coming into play. The house is paid off.

@Joe Villeneuve Yes, the house was paid for in cash. I want to cash out refinance for what I paid for the house if I don’t have to wait 6 months.

@Joe Villeneuve Ah! I didn’t know that! So I only need to season for 6 months if I expect to cash out refinance for more than I paid for the house? I’m fine with cashing out ASAP for what I paid for the house. Hopefully this works with my conventional lender.

@Brendon Pishny Did you cash out refinance into a conventional loan or a commercial loan? I’m trying to do conventional.

@Jayson Cain Did you cash out refinance into a conventional loan with no seasoning or to a commercial loan. I’m trying to do conventional.

@Lucas Martinez It will be in a long term lease. I’ve heard of no seasoning for commercial loans but not conventional.

@Brendon Pishny

I plan on buying another rental property with the cash. I think you are doing what I am trying to do. So what I did was buy a home last month with a line of credit. I would like to cash out refinance into a conventional mortgage because the rates are good on a 30-year. From your experience, is there a seasoning period to cash-out refinance into a conventional mortgage with this method? Please share an example.

How long is the seasoning period to do a cash-out refinance into a conventional mortgage if the property is completely paid off? I've read somewhere that it is usually six months but doesn't specify if that 6-month seasoning is for homes currently in a mortgage or homes that are paid off.