Buy cash then refinance into conventional?

[Marvin Z.]

Some lead sources I'm working with throw out deals that require all cash. I like some of these deals and want to participate. I have the cash to purchase but ultimately I would rather use leverage so I keep as much of my capital freed up for more investments.

Is it possible for me to purchase the property outright in cash, then once the deal is over and I own the property, take out a loan or refinance into a conventional loan with a more typical 20% down and get the rest of my cash out?

Thank you in advance for any insights you can provide here!