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Updated over 17 years ago,
I paid cash, now need to pull cash out to invest in others..
Hi, I am new to real estate investing but have an opportunity to buy a 100,000 home at a very good price. If I pay cash (from my bank account) to acquire it and fix it up and rent, then I would to finance the home after I own it. What options to I have to pull like 80-90% into a loan? Does this even make sense? Will a conventional lender give me a loan after I already bought it? At a fair interest rate?
My goal is to use the cash I have to my advance to buy the properties and then be able to continue the process with other properties by getting the cash out of the 1st one.
Thanks for any advice.