Buying the property outright...... - Posted by Rick

Real Estate Investing Real Estate Financing
#1

Posted by Rafiq on March 16, 2002 at 12:55:09:

Hi Rick,

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?

Rafiq

#2

Buying the property outright… - Posted by Rick

Posted by Rick on February 21, 2002 at 11:52:38:

What about a strategy to purchase the home outright. Then once you own and have made your needed repairs and rehab, looking for financing for 80% of the new value?
I have to thank so many for so much information, Keep sharing and thanks.
Please note I understand most people do not have enought to do what I described but once you reach this point, is this option more advantageous? Sellers are much more motivated when they hear an all cash deal, the savings could be huge on the buying end. Also being from Texas I want to know is thier any local regulations that would prevent such? Thanks,
Rick