Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 4 years ago on . Most recent reply

User Stats

6
Posts
0
Votes

Confused about competing with cash offers

Posted

Hi All! I am an avid BiggerPockets follower - books, podcasts, webinars, everything I can get my hands on. But this is my first post here.

I own 3 single-family homes in the Dallas area (Collin County), my primary residence, and 2 rental properties. Bought our primary with 20% down and the rentals with 25% each. I am looking to buy 3 more rental properties this year. Given the low inventory in our area, all the good deals are bought by cash offers. I have 25% to put down for the next property but that will be a conventional loan and doesn't offer closing within 2 weeks. I am wondering what my options could be in terms of financing for faster closing.  

Most Popular Reply

User Stats

17,521
Posts
30,286
Votes
Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
30,286
Votes |
17,521
Posts
Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied

Get fully pre-underwritten so you can close quicker. Use an escalation clause with an aggressive escalation amount. It needs to be a large enough number so that they will take your higher offer over cash. No small rinky dink escalation numbers.

business profile image
District Invest Group
5.0 stars
44 Reviews

Loading replies...