Get a loan for a property you paid cash for, or not?

[Andrew Caldieraro]

I bought a SFH outright for a rental property. Rent will be right around $1000/month. Appraisal value is $110k. I can get a 30-year fixed loan at 4.0% for up to $82,500 (not exceeding 75% LTV). With that said, closing costs will be close to $5k. I hate "using" $5k for a loan that I don't need but the rate and loan are good. And I could use that $82k to possibly buy another property (I don't have my eyes on any at the minute). What would YOU do?

[Bjorn Ahlblad]

@Andrew Caldieraro I would wait till I had my eyes on a deal because I have not seen any worthwhile deals recently. Also I would keep shopping for a loan to avoid the upfront fee. Like you and most others I hate fees!