All Forum Posts by: John Hartnett

I intend to join! Thanks.

This is great! First time caller, long time listener! Here's my takeaways:

1. A cash offer is always more attractive, and if we're serious as investors than we're way better off making a cash offer first - and refinancing after the deal.

2. Inspection contingencies can be albatrosses to a deal - so it's not just the financing that can affect a cash offer. I need to get comfortable and confident inspecting SFH's if intend to build a portfolio of 4-10 or more. That is, when I'm serious about making an offer, I should be able to do a home inspection myself to have confidence in making offer without inspection contingencies.

3. 5-10% is a reasonable discount for a cash offer to be as attractive as a financed offer - the real value is that a cash offer brings confidence to the seller that the deal will close. And finally...

4. "John Mountain" is a pretty hokey pseudonym. I'm a little nervous about creating a profile with my real name as my social media exposure is big enough already. I'll change it up soon.

Thanks for the thoughtful replies.

I've placed a bunch of offers this year, seeking to pursue a buy and hold strategy to build a rental portfolio. The county records show that a recent house settled for $125k cash, while my offer was $135k with 20% down. The house was on the market for 500 days, not a short sale or a foreclosure.

SO - how much more attractive in quantitative terms are cash offers? Should I make ALL my offers in cash and then refinance them?