Updated over 3 years ago on . Most recent reply
Cash or Loan
Hi People, I'm a rookie investor/real estate agent from NY and I have an opportunity to purchase my first property with cash. I aim to invest in a few MTR/LTRs in a B-class neighborhood in Greenville, SC. I am determined to grow my portfolio. I want my first home to be turnkey. Right now I do not qualify for a conventional loan. I want this first property to be a springboard to more. I have educated myself by watching podcasts, reading books, asking questions, and getting a real estate license in my home state but there is still more to learn. I am knee-deep in my new favorite book The 30-Day Stay...it's a good resource. What would you do cash or a loan and why? Thanks for your responses in advance.
Most Popular Reply
Cash straps you down and inhibits you from closing more deals. Use OPM as much as you can and have the option to close on more than one property.