Updated almost 11 years ago on . Most recent reply
Who's money is best !!!
Good morning all !!! I am new to investing and to the Phoenix area. What is the best way to buy investment property? I have a large a amount of cash to buy my first property, but have heard people in past say , use other people money and not your own. I don't like having to many hands in my pot and the cash is there to invest. what do you think is best?
Most Popular Reply
#5 All Forums Contributor
- Plymouth, MI
If you can buy/rehab using only your own money then you can become your own bank in a sense. Buy/rehab a property, refinance all your cash back out, and keep repeating this until you get tired of it.
2 Golden Rules of REI I follow:
Rule #1`: Never under any circumstances spend your seed money...use it over and over again. There is a difference between spending and using, as in the difference between a cost and and expense...even though you may be using the same dollar amount for the same thing in both cases.