NEW YORK REAL ESTATE INVESTOR MEETUP (LONG ISLAND, NEW YORK )LOCATION: 50 Jericho Quadrangle, Suite 210 | Jericho, NY 11753All investors small or big, new or seasoned should join our group and attend our free event on May 20th at 11 am.

Talked to the banker though, and by next year, once I've seasoned the rents and proved the history, they'd be more than happy to revaluate and do a HELOC or refinance at that time.

Also remember that there are a lot of other factors to consider for vacation rental properties such as seasonality/demand, view/waterfront vs. not, community amenities, what it is near, making it warm and inviting, etc.Best Regards,Scott

Some will want to see that the income has been coming in steadily (called a seasoning period, or seasoned income) before they count it, but it certainly happens.

A seasoned investor should be able to explain exactly why so you can verify it independently on your own. 

You allow the property to season for a year, building a 1-year rental history, then refinance to pull your original investment out so you can do it all over again.

In the world of no, low doc, aka DSCR loans, I believe that the fund source doesn’t matter as much as long as it is seasoned.

My equity and cash flow today is directly correlated to the people that I've leveraged in Indy, the only thing I brought to the table was trust and grit to get through the tough times.I'd suggest you do it the way I did it (since you're a seasoned investor), start from ground up, learn the ropes in that market and don't do the turnkey route.

I'm sure other more seasoned REI here will have more advice.    

If you refi the FNMA loans into a commercial loan, then you are down to 0 FNMA loans, and you can do cash-out.There is a 6 month seasoning requirement (from purchase date) before you can do a loan against a new appraisal.Upen Patel, Mortgage BankerFederal NMLS# 1374243