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Updated over 2 years ago, 08/11/2022
NEED ADVICE PLEASE! Loan Vs Cash!
Hey BP fam!
I need some help! We found a great off market deal on a local duplex that will cash flow, appreciate and could potentially be a STR on one side. Went and looked at the property, minor rehab (maybe 10k). Problem is that we will be needing to use a conventional loan. We were the only offer a few days ago, the guy gets back to us and says there are more people interested and probably going to make an offer. I'm almost 100% sure there will be a cash offer of some sort that we will have to go against.
What can we do to at least give ourselves a chance against cash? Is there anyway to make our offer better and more appealing other than putting a higher offer? What would you guys do in this situation??
I appreciate any and all feedback! Thank you!