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Updated over 5 years ago on . Most recent reply

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Monique Banks
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Buying a residential building with cash out of your pockets

Monique Banks
Posted

I am looking for a residential building apartments, triplex, duplex, quadruplex that is for sale. I am wanting to pay out of pocket without and bank loans or financing

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Bjorn Ahlblad
#5 Multi-Family and Apartment Investing Contributor
  • Investor
  • Shelton, WA
6,948
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Bjorn Ahlblad
#5 Multi-Family and Apartment Investing Contributor
  • Investor
  • Shelton, WA
Replied

@Monique Banks one of the main differences between using the banks money and your own is the bank will want to examine your deal to see if it ifs fundable. That gives you an extra sanity check, so if you are using your own cash you have to be extra sure of your investment. 

The basics apply whether you use cash or loan. Learn to underwrite and master the process. Attend podcasts, read books, follow threads. There is so much knowledge here on this site. Get out and network go to investor meetings in your area. 

Start thinking about what your goals are and what you want to achieve, and why. Don't advertise that you have money or how much. It is nobody's business but yours. All the best! 

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