2 for 1 Off Market deals in 2 different markets

[Rob Greynolds]

Hello, I have an opportunity to purchase a nice single family home in a desirable area in the Chicago suburbs off market. The person wants to retire in North Carolina and is willing to sell her house to me by owner. After some further discussions we discussed her goals and realized we could also partner on a house hack deal in North Carolina. My question is what's the best way to the purchase the Chicago property? She would be willing to quit claim deed her house to me as we have a very trusting relationship and I want to make sure I give her a fair and honest deal. I was thinking a cash offer for the Chicago place and then a cash out refi(if the numbers work) for North Carolina.
 

Looking to talk to someone for guidance!

[Paul De Luca]

@Rob Greynolds

Why not get a loan to purchase the property in Chicago and then you can reinvest the remainder of the funds in other projects?

The "best way" to purchase depends on a number of factors like your ability to get loan, how quickly you both want to close, and opportunity cost of doing a cash offer vs getting a mortgage.

Inflation is already here so if possible you should be securing as much long term, fixed rate debt as you can.