Quote from @Leo R.:
@Rhianna Cultrona you said "...in a C neighborhood but a good location"
Typically, a C neighborhood is a bad location by most standards (or at least, mediocre)...maybe you could clarify?
Whether to finance or go all cash depends on a lot of factors you haven't mentioned--like the price, the cashflow (both as a cash buy and as a financed purchase), the terms of the debt, how the cash purchase would affect your net worth and exposure to risk, your exit strategy, etc., etc. What @Nathan Grabau mentioned is spot-on.....provide the forums with more detailed info about the deal, and we can provide you with more detailed feedback...
Good luck out there!
Absolutely. It’s on the edge of a C area but on a street that has more newer builds and more pride of ownership. It is also right near a hospital with a huge travel nurse demand. There is also the small chance that in the future the hospital would want to expand and may try to buy us out.
After negotiations we landed $58k plus 2% closing with 25% down. With traditional financing our super conservative COC is 10.64% but could grow to high 20s if we go the travel nurse per diem route.
With all cash it would eat capitol but wouldn’t adversely affect our net worth too badly.
Our plan is to buy and hold so selling isn’t a huge issue but I also don’t like the idea of being “stuck”.
We are also just trying to find a direction for our investment strategy. Our first few houses we bought quickly so I’m trying to focus and have a method to our madness
