Paying cash and then getting a mortgage VS getting a mortgage

[Edward Heavrin]

Hi all,

I've seen a few successful investors in my area who buy properties cash, fix them up, then rent them out, THEN get a mortgage from the bank, get 75% of their money out and move on to the next. 

Trying to figure out what the advantage of this is?  To get the extra money you spent on rehab back? Are there any other advantages to this?

Thanks!