after buying ALL cash how to get money back??HELOC? REFI?

[Account Closed]

I am buying my first rental all cash for 45k and am wondering how I can go about getting the cash back? I am running into a few problems that the banks are having with Non owner occupied properties.
The loan officers are telling me that I need to live in the rental to get a home equity or line of credit, but are telling me they don't check and you can get away with it. I don't want to do anything like that and would rather go safe and let them know it is an investment..

The other option is a cash out REFI which I know you have to wait 6 months for that.

Any one know a way they have used on an investment property to buy it cash close and then within a couple weeks to a month get 50-60% of your money back? thanks

[J Scott]

I routinely do a cash-out refi at 65% of my purchase + rehab costs; the refi is typically up to 5 years with a balloon (amortized over 20 years) @ about 7% interest, and it can be done as soon as the day after the purchase.

This is pretty typical for small banks that do portfolio loans -- in fact, I know a couple other investors here on BP that get similar loans.

Find a small, local bank in your area that does portfolio loans...