Cash or Mortgage for Quick Deal

[Trey Wilcox]

I recently graduated from the University of Georgia and am now working full-time with a redevelopment company as a property manager. My lease for school expires at the end of July and now seems like the perfect time to buy my first home/investment property. I have a couple buddies who want to rent out the extra rooms from me but I need to find a place quick. I have a private lender who would pay cash if he agrees the deal is good. I'm worried I won't be able to find a deal before my lease is up that he agrees will provide value to both of us. Should I be prepared to take out a mortgage and settle for a deal that may not be what I'm necessarily looking for because I am on a time crunch? Thanks for any advice!