Pay cash now, refi immediately? Delayed Financing question.

[Eddie Torres]

Does anyone have any experience with delayed financing? What if I purchased in investment property in cash to give me a buying advantage, then immediately turned around and did a cash out refi? I realize I would only be able access around 80% of the value but would I have to wait 6 months? Will most conventional lenders be willing to do this?

[Drew Hoffos]

I tried this method and was unable to find any lender that could compete with the rates on a conventional purchase. I'm pretty green to the REI game, but I asked a lot of questions and wasn't able to find someone who could make it happen.
I'm following the thread so if you find someone in Nashville or Columbus who can make it happen please let me know!