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Updated about 2 years ago on . Most recent reply

Edward Heavrin's profile image
Edward Heavrin's profile image
Edward Heavrin
  • from Louisville, Kentucky
  • Member since Jul 18, 2017
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Edward Heavrin's profile image
Edward Heavrin's profile image
Edward Heavrin
  • from Louisville, Kentucky
  • Member since Jul 18, 2017
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Edward Heavrin
  • Louisville, KY
9
Votes |
24
Posts
General Real Estate Investing

Paying cash and then getting a mortgage VS getting a mortgage

Edward Heavrin
  • Louisville, KY
Posted

Hi all,

I've seen a few successful investors in my area who buy properties cash, fix them up, then rent them out, THEN get a mortgage from the bank, get 75% of their money out and move on to the next. 

Trying to figure out what the advantage of this is?  To get the extra money you spent on rehab back? Are there any other advantages to this?

Thanks!

Louisville, Kentucky
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Eliott Elias's profile image
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Eliott Elias
  • Investor
  • from Austin, TX
  • Member since Jan 5, 2021
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Eliott Elias's profile image
Eliott Elias's profile image
Eliott Elias
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  • from Austin, TX
  • Member since Jan 5, 2021
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Eliott Elias
  • Investor
  • Austin, TX
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Eliott Elias
  • Investor
  • Austin, TX
Replied

You don't pay holding or closing costs. 

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