refinancing rentals

[Lindsay C.]

Right now I don't have much income or perfect credit but I do have cash. If I want to pick up a rental property would a good option for me be to pay cash rent it out and then refinance to get my money back?

[Josh Green]

how are you guaranteed to show a decent income in a year?

if you are that confident, then yes, buy with cash and then attempt a refi. HOWEVER, a cash-out refi is more difficult than a simple refi. you really need to get your credit up and make sure you are buying right.