Should I spend my cash....

[Aliyah Conley]

Hello, 

After looking high and low, coming across deals that are under contract and in closing by the time I contact the real estate agent, I have found a nice duplex in a decent area for a great price. I have been saving my money since last year, incase an opportunity like this ever rolled around and the duplex is priced to where I can pay it all in cash. Does anyone recommend that I do this or should I go ahead and get financing?

[Steve Vaughan]

Congrats saving at a rate high enough to purchase your first plex outright, @Aliyah Conley! That's awesome!

I would finance if all things are equal, but pay cash for a discount. My LOI offer would have 3 scenarios with 3 price points; $x for cash, $x + x% with bank financing, $x + x+% for seller financing. All amounts would be specific, like $91,473. Don't use lots of zeros like $90,000.

I prefer to pay cash and refi after 6+ months.  Delayed financing only gets you 70% of value back.

Will this be a househack or investment?  I'd be more likely to pay cash if investment.  Househack may only require a 5% down payment at an awesome fixed rate.  Congrats again!