Posted by Rafiq on March 16, 2002 at 12:55:09:
It seems you were overlooked on that day.
Your idea is right on target. There are many advantages to doing all cash deals. The number one advantage is that you almost always get your price. It also eliminates a lot of potential problems for you. All you need to do from there is refi to pull your cash out plus profit and move to the next.
To answer your last question, there are no regulations that can keep anyone from buying that way.
Another bonus for you. There are no capital gains taxes because you have not sold the property. As a matter of fact there are no taxes because the IRS can not consider any of the profits as income because it’s a loan.
What do you think?