Buying CASH and planning to finance later... good idea?

[Vanesa Gonzalez]

Hi,

I am in the process of buying a SFH cash using my money and the plan is to rehab it, rent it and then ask for financing. First time doing it this way ( I usually buy using conventional loans but this is through a wholesaler and have to pay cash). Do I have to wait certain time before doing it? I am in Florida. Thank you!

[Bob Okenwa]

This is called Delayed Financing. In most cases, at least from what I've seen, you should be able to get a loan on the property without having to wait. There are plenty of posts here about DF, but you can only get a loan based on what you paid for it (75% LTV), not including the rehab funds you put into the property.