Texas Purchase - Paying Cash then Cash-out refi??

[Maceo D.]

Hello everyone, I am looking for someone that can help me understand how the process would work if I paid cash for a property and then did a cash-out refi in Texas.

I am working on purchasing a property that is set to close on 7/31.  I am purchasing the house for 90K but just got the appraisal that came back at 130K.

So my question is, if I buy the house in cash, how soon thereafter can I do a cash-out refi (is there a seasoning period)?  Doing this will allow me to get my cash back instead of being tied up into the property and allowing me to purchase another property.

Thanks in advance.