Financing with a large cash reserve
Hi BP community!
I'm a first-time Real Estate investor, and I want to ask about the best way to go about financing during this time.
I have a large cash reserve saved up, and I'm investigating a multi-family property currently listed in Chicago. Based on the deal analysis, it can generate a positive cash-on-cash return. So where I'm at is:
1. wait out longer for the price to drop, currently, I want to wait out at least to end of Q3 2020.
2. extend additional line of credit, or mortgage to make myself financial able when I'm ready to execute on a deal
What do you think is the best approach forward from an investor standpoint?
Thanks in advance, and hope everyone stays healthy and safe!