I have some money set aside ($100K) and am contemplating putting it into a multi unit (4+). I would be interested in refinancing and pulling my money out ASAP. Assuming I buy below market, made a few repairs to raise value and rents enough to cover the difference, What is the soonest I could resonably refinance. Also would there be any benefits to completeing these transactions as a corporation?
There are programs that allow for cash out refinances immediately with no seasoning. This can be done as full doc or stated.
Whether you qualify depends upon several factors.
I would need additional data to determine which program and lender would be best.
Email headed your way.
That’s a good question. I was wondering that myself. I was thinking more along the lines of using a HML to purchase, rehab & rent. Then refi ASAP. I’d be looking to take some cash for a good down payment on another property. I’m concerned that I’s locked into a high rate HML. Sorry, I don’t mean to hijack your thread… :banghead