Re-financing strategy

[Cristian Petrescu]

Hey all

I've heard people do re-financing quite often and was wondering if this was a viable strategy

Basically what I am thinking of doing is - and keep in mind I'm currently un-employed, living in Canada but wanting to invest in the US and have no money in my pockets to invest in anything

So:
1- finding a property below value with a motivated seller and all that
2- finding a lender who would lend 100% of the deal for 6-12 months
3- refinance the property and pay back the lender

This is a really simplified version of what I thought of doing so I guess my next question is how doable is this?

1 is pretty straight forward but 2 and 3 I haven't had experience with that yet
How realistic is it to find a lender that not only would lend 100% but also for 6-12 months
Also, how strict is the 6-12 month "seasoning" rule - like if I own the property for 6 months would a bank even look at my case and want to re-finance me knowing that I am in Canada and un-employed?

Thanks guys - I'm still in the process of trying to learn all this stuff so any comment is helpful