rtcasale@optonline.net's blog

Does anyone know of any banks or credit unions that will allow an investment property to be refinanced if it is not seasoned? I have two properties that I bought as foreclosures, rehabbed them and would like to keep them as rentals but I had to buy them cash so I would need to get some of my money back now so that I could move onto the next property. I have people interested in buying them but they would make great rentals and I would like to build a little portfolio of rentals for the future. The banks I have contacted will not allow me to pull my money out and finance a conventional mtg.

Thanks