Updated over 4 years ago on . Most recent reply
Refi off the start?
Hi everyone!
I am a totally new investor who is currently in the "education" phase of my investment journey. Trying to get as many opinions as possible. The current situation is that I have enough built up in capital for investment to be able to buy our first house in cash. I was curious on if this was a better option? My strategy would be to buy the home in cash and immediately refi for a 70% equity loan on the home. This in theory would allow me to make more appealing offers on deals and eliminate a lender on the front end, when negotiating with the seller. I would take the refi money, pay my business back and move on to the next property. All thoughts are welcomed as this is just an idea.