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Updated almost 7 years ago on . Most recent reply
Buy and Hold Appraisal
Hello BP!
For all of my cash buyers that buy and hold for cash flow this question is for you.
Do you bother to get an appraisal if the purchase price meets your cash flow requirements?
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#5 All Forums Contributor
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Originally posted by @Kristen Ray:
Hello BP!
For all of my cash buyers that buy and hold for cash flow this question is for you.
Do you bother to get an appraisal if the purchase price meets your cash flow requirements?
Most folks who are buying with cash don't typically get an appraisal. I've seen a few do it over the years but they are definitely the minority.
Note to newbies out there. I DO NOT recommend being a cash only buyer on your 1st couple properties. Go ahead & use that bank financing & get that built in protection of a bank appraisal. Use the banks money before your own. Bank isn't gonna let you loose their money.