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Updated over 7 years ago,

User Stats

7
Posts
1
Votes
Zachary Lynn
  • East Setauket, NY
1
Votes |
7
Posts

Buying cash vs mortgage for a flip

Zachary Lynn
  • East Setauket, NY
Posted

Interested in doing a flip in the next few months.

On for example, a 400,000$ purchase here in suffolk county NY, there could be greater than $15,000 closing costs.

Is there a way to minimize these costs to minimize breakeven -- would paying cash eliminate a lot of the lender fees -- is it even worth it? Would buying from a town directly prevent the 3%-6% closing broker fees?

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