Originally posted by @Manish Sharma:
@Jeff Schechter mostly rents ready in A or B+ neighborhoods. I am OOS so looking for fewer risk investments. I tried looking for flips and wanted to put in a team in place but living far away from the ground is making it harder.
On another note, Is it possible to buy on cash and then later refinance it? Will this be an easy way to get an offer accepted?
In today's market here...I'd be willing to bet that if you are buying on the MLS, there is a 80-90% chance that you are overpaying. If you add financing into that mix...well...it becomes a bad deal from the get-go. If you have the cash handy, I would buy in cash 100% of the time, and have a large enough equity cushion to refinance should I desire.
Further--something else to think about: is your agent an investor? Or just a realtor who pulls comps? I would want an investor/agent in my corner...not just someone who can hop on the MLS and spit out "values." My two cents.
Thanks,