Turnkey real estate cash purchase in Memphis

[John Rass]

Hello

New to posting on biggerpockets forums but have been reading and watching many podcasts.   I’m a new investor interested in purchasing my first turnkey investment property. I’ve been looking at turnkey properties in Memphis between 100k and 115k.  With rates staying high, what is the consensus on purchasing all cash vs financing for the first property? I know leverage is typically the recommendation but why not buy all cash if possible and leverage the equity for future properties when and if rates decrease?  Less headaches when there are vacancies.   And if I leverage the equity in the future for additional properties my break even time period can be reduced.  To me seems like a good way to start with less things to worry about with a path to leverage the first property into a few more in the future.  Curious to get opinions from more experienced investors than myself.  Thanks 

[Mark S.]

Quote from @John Rass:

Hello

New to posting on biggerpockets forums but have been reading and watching many podcasts.   I’m a new investor interested in purchasing my first turnkey investment property. I’ve been looking at turnkey properties in Memphis between 100k and 115k.  With rates staying high, what is the consensus on purchasing all cash vs financing for the first property? I know leverage is typically the recommendation but why not buy all cash if possible and leverage the equity for future properties when and if rates decrease?  Less headaches when there are vacancies.   And if I leverage the equity in the future for additional properties my break even time period can be reduced.  To me seems like a good way to start with less things to worry about with a path to leverage the first property into a few more in the future.  Curious to get opinions from more experienced investors than myself.  Thanks 

Check out Memphis Real Estate podcast w @Douglas Skipworth and @Dean Harris on Memphis zipcodes    It’s gold    Very accurate

@Dean Harrisundefined