I have cash to purchase an SFR to rehab then hold as a rental. After the rehab is complete I would like to get most of my cash back through financing based on 70%-75% of ARV with limited seasoning (not more than 6 months).
I know certain lenders do this (usually local banks or credit unions). Does anyone have a recommendation for a lender in the DFW area that will do this type of loan with 6 months or less of seasoning?
I could use hard money but basically I'm trying to avoid the high points, other fees, and high interest rate.
Thanks!
