Purchasing Properties in cash
Hello all. I was wondering if anyone purchases properties in cash and what the pro/cons of this would be. I purchased a duplex at the beginning of this year in the pursuit to begin my road to financial freedom. After reverse engineering the amount of properties it would take for me to become financially free i was a bit overwhelmed. It would be between 30-40 properties cash flowing 100-200 each. The area i'm investing in has houses as low as 30 000 up to 300 000$. I was thinking it might be a smart idea to live frugally for the next 5-8 years and save as much money as i can and purchase properties in cash.
I figure it would take relatively the same amount of money as purchasing 40 properties but i would only have to purchase 1/4 or a 1/5th of the amount to create the same amount of passive income. It would probably take about the same amount of time or maybe quicker as your money would start snowballing after owning a few properties.
I was wondering if anyone uses this strategy and if you have any advice/pro's/cons for choosing this path. Thanks!