Here's a breakdown of why Buyer’s should buy the home and Refinance once rates drop:

Buy Now: Acquire the property using a purchase loan, which could be a mortgage or another type of financing. This allows them to secure the property and start the investment.

Make Improvements: While not always necessary, a person may invest in renovations or improvements to increase the property's value. This step is crucial to potentially enhance the property's appraised value for the refinancing stage.

Refinance Later: Once the property has been improved and its value has potentially increased, refinance the initial purchase loan. The goal is to secure a new loan based on the property's higher appraised value. This can allow the investor to access additional funds, repay the initial loan, or improve the property further.

This strategy can be advantageous because it enables investors to use the property's appreciation to access additional capital. However, it comes with risks, and the ability to successfully execute this strategy depends on factors such as market conditions, property improvements, and the investor's financial situation. Additionally, it's important to carefully consider the costs and terms associated with refinancing.

This strategy allows you to adopt a lower monthly payment and leverage the equity built in your home. As described, you may use the acquired funds to do as you please. (Potentially a down-payment for another property!) This is why it is important to buy when you can afford to, rather than waiting on the market!