Do you really getting better deals with all cash?

[Jared MontBlanc]

You always hear that cash is king, but do you really get better deals and if so, can someone tell me how to best leverage your cash for the best deals? I get that cash on hand is great for rehabbing larger projects but are their ways to leverage the cash for better deals on the buy? I'm thinking of city auctions, distressed quick close, etc but not sure if I'm missing something else more straight fwd. Also, on a related note, although I have a respectable amount of cash to work with, I'm considering a refi on my current home to pull out more to help in acquiring more property (why should the bank get to hold the money!?). Is it a bad idea to do this given closing costs incurred and the increased monthly payment of +$600/mth since my net loan amount will now be higher? Interest rate will be about the same. It'll be about $100k in equity to pull out while still leaving 20% in the home. Thx in advance, BP. Jared

[Ryan Murdock]

@Jared MontBlanc Cash is king in competitive situations. I like to buy cash to secure the best deal but have a plan to refi quickly to get the cash back out. Most times that involves some amount of property renovation first but it doesn't always have to.

As for refi'ing you primary residence - why not just take a HELOC so you can draw on the funds only when you need them?