Updated almost 5 years ago on . Most recent reply
Should i pay cash ir take a loan
First property i buy i wanted to renovate and live in it for a while before renting it. Should i buy cash? Im hearing its not such a great idea and that i should use that money to buy multiple properties with leverage using mortgage loans...
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If this is your first property, then yes, I'd recommend using the bank's money, if possible, to accelerate your investing journey. If you use cash, you are essentially locking up that capital and you can't deploy it to purchase additional properties. The way you use your capital should be reflected in your goals. If your goals are to buy proeprties and pay them off ASAP - then yes, use cash. If you want to build a portfolio quickly and live off the cash flow, then that will lead you down a different path.