Buy Cash, or on a Loan?

[Simon Huber]

Hey! I wondered whether I should buy my first rental cash, or with a loan? It's my first time and I hear all these different suggestions...

Thanks for your answers!

[Charles Carillo]

@Simon Huber

The great thing about real estate is that your financing choice is not permanent. If you buy in cash, you can always refinance, and if you get a mortgage; you can always pay it off.

Buying with cash is usually a great move (if you can do it) since you can usually negotiate a better price with the seller because there is no financing contingency and you can close fast. Then you can address any deferred maintenance, complete any renovations and finally refinance it.