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Updated about 2 years ago on . Most recent reply

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9
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2
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Nia Merced
2
Votes |
9
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Cash or Loan

Nia Merced
Posted

Hi People,  I'm a rookie investor/real estate agent from NY and I have an opportunity to purchase my first property with cash.  I aim to invest in a few MTR/LTRs in a B-class neighborhood in Greenville, SC.  I am determined to grow my portfolio. I  want my first home to be turnkey.  Right now I do not qualify for a conventional loan.  I want this first property to be a springboard to more.  I have educated myself by watching podcasts, reading books, asking questions, and getting a real estate license in my home state but there is still more to learn.  I am knee-deep in my new favorite book The 30-Day Stay...it's a good resource.  What would you do cash or a loan and why?  Thanks for your responses in advance.

Most Popular Reply

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9,861
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5,552
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Eliott Elias
  • Investor
  • Austin, TX
5,552
Votes |
9,861
Posts
Eliott Elias
  • Investor
  • Austin, TX
Replied

Cash straps you down and inhibits you from closing more deals. Use OPM as much as you can and have the option to close on more than one property.  

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