paying cash vs. taking a loan
We are trying to close a buy & hold deal and at this point the financing looks like it will go through. However, our thoughts were we'd do our renovations, get a tenant and then refi to get some of the equity out. Now we are wondering if it is better to just pay cash for it (we have HELOC money and savings available) and then do the work, get it rented and go about getting a loan after the fact. My husband feels this will help us not pay closing costs twice. Is there a great difference between closing a cash deal over a financed deal? I know there are title company fees. We are in KC, MO if that makes a difference. Thanks for advice!!