Buying Cash then Re-fi?

[Aurelio Mallamace]

Hey everyone,

Just wanted to see if anyone has had experience with paying cash for a home to combat the competitiveness in today's market then shortly after re-financing to pull out cash to do the same on another property.

My thoughts are that this could be a good way to make an offer stand out, be at or near the top of the list of offers, and win deals.

A few items for clarity:

I imagine under the refi terms, I would only be able to pull back 75%-80%, thus resulting in the same net results as a down payment of that amount, correct?

Is there a set time period in which I would have to wait to complete the refi - 45,60,90+ days?

Any other items to be taken into consideration?

Thanks for any/all input on this.