Deal Analysis

[Brian Williams]

Hello I am a rookie and I would like some feedback on my first deal. I just signed the sale contract this morning but I haven't closed yet. 3 BR 2 BA 1,500 Sq.Ft Purchase Price: 73,900 Appraised Value: 110,000 Rent: 950 Monthly Refi Payment* : 455 I made an all cash purchase and called a few banks about cash out refinancing -- the best I could find was a 6 month seasoning. I plan on renting it out and doing a cash out refi as soon as my seasoning time is up to get my cash back. Does this seem like a good plan?