Off Market Deals-Financing Question

[Nate Ruehle]

Hi all. I bought a duplex last year, and looking to scale to a 4-plex, or 4 doors, in 2022. 

I am very interested in direct mail marketing to find off-market deals. Everything that I have read stresses that the buyer should have the ability to make an all cash offer. Is this a hard-and-fast rule when it comes to off-market deals? I am preapproved through several banks and have the funds for a down payment. 

I understand the ease of a sale with all-cash, since you can close immediately, no hassle in waiting for underwriting, etc. But I'm curious what others think in terms of using bank financing for off market deals. 

Thanks all! Truly appreciate all who post and comment for their advice and expertise. 

[Marco Bario]

Originally posted by @Nate Ruehle:

Hi all. I bought a duplex last year, and looking to scale to a 4-plex, or 4 doors, in 2022. 

I am very interested in direct mail marketing to find off-market deals. Everything that I have read stresses that the buyer should have the ability to make an all cash offer. Is this a hard-and-fast rule when it comes to off-market deals? I am preapproved through several banks and have the funds for a down payment. 

Banks won't be able to close quickly enough. Using hard money or private third-party funds (debt or equity) would allow you to close in a week or less if you wish.