I am looking at purchasing a foreclosed home in cash for 73k with 20-30k in expenses including renos with ARV of 125k. I have a great realtor who knows the market and is confident in the ARV. I have walked through the property personally with my net sheet and will be spending 100% of my time renovating it myself minus a few projects like granite countertops and painting the exterior. I have fantastic credit, and momentum from my last purchase which gave me a return of 100k! My wife and I are currently renting a house now and are completely debt free. I turn 30 in February and want to make this my business for the foreseeable future. My point in making this post (first timer on BP) is to make sure I'm not making the wrong decision in purchasing a property in cash versus finding a property that allows financing and taking out a loan thus only having to pay the down payment. Any and all advice is greatly appreciated!
