While interest rates are higher, they could work as a short-term solution to help you secure the property, and you can always refinance later once you have a steady income.3.

One additional item to consider is to buy an outdated property, rehab it and refinance it, this way you would have less cash into the deal and higher Cash on Cash Returns.

The intent would be to do a cash out refinance to pay off Heloc within 6 months.I have two bids so far ranging from 165-200k.

It’s important to make sure the lender offers both options so you can transition smoothly if you go with the BRRRR method.Cash Purchase & Mortgage Later: Yes, non-QM lenders offer a product called "delayed financing," which allows you to buy a property with cash and refinance later.

That way you can refinance once the rehab is complete and get a loan based on the new appraised value of the property. 

-Can I even do a cash out refinance with an FHA loan? 

Its a product we offer, just doesn't get a lot of play, because its a pain to refinance that seller out down the road.

The closing costs would be in the $10,000 to $15,000 range to refinance the entire amount. 

Congrats - did you refinance into long-term debt yet?

You could also explore a cash-out refinance to fund another investment.