Paying cash for REI

[Derek Sperzel]

I have been searching for my first rental property, and I am getting beat to the punch on the good deals. IE, the pros are making cash offers as soon as a deal hits the MLS and scooping them up. I don't want to tie up all my cash, but couldn't I pay all cash to secure the property and then refi 80%? Is this a common practice?

[Paul Sorgi]

Derek talk to your some one in your local bank.  You do want to make sure that the bank will lend to you before tying up all your cash.