Financing with a large cash reserve

[Marshall Shen]

Hi BP community!

I'm a first-time Real Estate investor, and I want to ask about the best way to go about financing during this time.

I have a large cash reserve saved up, and I'm investigating a multi-family property currently listed in Chicago. Based on the deal analysis, it can generate a positive cash-on-cash return. So where I'm at is:

1. wait out longer for the price to drop, currently, I want to wait out at least to end of Q3 2020.

2. extend additional line of credit, or mortgage to make myself financial able when I'm ready to execute on a deal

What do you think is the best approach forward from an investor standpoint?

Thanks in advance, and hope everyone stays healthy and safe!