@Tanner KingTo prepare for an FHA loan, ensure income stability and sufficient savings to cover down payment and closing costs.

Knowing the monthly rent helps you assess the tenant’s financial stability.

(We personally do portfolio and single property loans and will be adding a HELOC product soon!)

Better quality product, better installation, and making relationships is invaluable if you plan to scale.

Since you already have the cash, you can avoid that added cost.Lower Risk: By purchasing outright, you're minimizing your risk and giving yourself time to learn the process without the pressure of loan payments and short-term financing deadlines.Better Refinancing Terms: After you purchase and stabilize the property, you can refinance it with a traditional lender at a lower rate and pull cash out for your next investment.This approach keeps things simple and allows you to focus on learning without the complications of high-interest debt.Let me know if you need more advice!

This creates long-term stability, as residents tend to stay longer.

(the way the conventional mortgage was a root canal)I am probably going to pay cash for the property upfront and then finance it after the close, so I have some time to explore financing products. 

Refinance 💵Once the property is rented and stabilized, it’s time to refinance.

Please try to suggest products/services that you have used and like. 

Your tenants are customers, properties are your product and reputation is your brand.