Buying rentals with Cash, best options?

[Jesse T.]

I am getting about 200k in in the coming weeks this money is coming in from an investment outside my current job.

I have been looking a condos in the Tampa florida area. Due to the high inventory of foreclosures you can pick up units from between 20-45k.

I would like to pay cash for these units and then pull the cash out and use it to keep buying more knowing that I wont be able more than 70-75% of my cash of each unit.

What is the best way to go about this?

[Nick J.]

Welcome!

first things first is quit telling people how much money you have.

Your thinking is on point but I would also consider contacting a local/regional bank and see what they're requiring to do re-fi's, heloc's etc....

Make sure you don't get crazy and spend it all though. Keep a lot of it as a padding.