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Cash Vs Finance
All,
I am new here and new to commercial real estate investing. I do have a few single-family homes rented out. This will be my first apartment building investment. I could use some advice from experienced investors here what would you do?
I have purchased an apartment building (with 9 units) in an auction deal. Since this is an auction deal I have a hard deadline to close. I have 2 options:
1. Financing: 65% LTV, 7.5% interest rate, 7 years
2. Pay cash and then after 6-9 months do cash out refinance. - in this case, I will have more time to shop around for better loan terms/rates etc.
Thanks
Sandeep