Assuming I had 200,000 dollars in cash and was about to buy a house for 20k which needed 40k in work to become a 95-100k dollar house.
Can someone explain to me some good reasons why I should not use cash?
In my opinion it speeds everything up (including the purchase which is why I think I am getting the house at such a good price), allows me to take my time (it’s my first flip) and reduces carrying costs (since I won’t be paying interest on a note).
Even if I decide to keep the property for a rental unit I could always just do a reverse mortgage and get my cash back. Am I missing something huge here?