how does one buy property cash?
im a newbie, i havnt did my first deal. when one buys property cash, do they pay "actual" physical cash, or does this mean they have a big credit line. please clarify this for me. i cant imagine someone coming to closing with a big suitcase of money 
please respond.....thanks to all on this website
[quote]
On 2003-02-22 10:44, antonyo wrote:
im a newbie, i havnt did my first deal. when one buys property cash, do they pay "actual" physical cash, or does this mean they have a big credit line. please clarify this for me. i cant imagine someone coming to closing with a big suitcase of money <IMG
Either way, weather you have liquid cash or a credit line you will take a certified check for the full amount to the closing. For example if an investor has $300,000 in equity and has an open line of credit, he may opt to purchase a property, for whatever reason, "cash". Upon closing he will re-fi the property paying back equity line.
I am not sure what your fiancial position is, but if you are a newbie and want to learn about REI your best bet is to find CREATIVE ways to purchase using the minimal amount of cash out of pocket. That is what this site is designed for. Welcome aboard!!
Happy Hunting
Repoman