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Updated about 2 years ago on . Most recent reply
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Cash or Loan
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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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.