Updated about 9 years ago on . Most recent reply
Cash Purchase or Loan for First Flip?
I have yet to make my first purchase and plan to do several more months of analyzing properties and finding my "niche" property type. However, when the time does come what makes more sense? A cash purchase or loan? The finance aspect is what I feel least informed about and the area I am working most to understand before I put an offer in on a property. To me it seems I would be able to get a loan with little question if I had cash in the bank.. but if the all cash deal gets me the property for a better price, I would assume that the cash option would be best. I could then use a construction loan to rehab the property. Baring any major unforeseen issues would allow for a bigger profit on a flip. Any recommendations based on experience?
Nick