Finance or buy cash?
I'm looking at my second property and am meeting with my realtor on Friday to write an offer. It's a duplex and I'm going to offer $30k. I walked through with my contractor and he foresees $25-30k capex to get the property to be a quality property.
My question is should I finance the property and pay cash for the improvements and then try to refi again after its finished and rented? Or should I just skip the step, and buy it with cash and pay for the upgrades and then do a cash out refinance at the end to take out 80% of the ARV equity? I figured that I would save $ in bank fees doing it the second way.