Home Improvement Loan Advice

[Jake Rice]

Hello All!

I need some advice/guidance. I am 23 years old near Pittsburgh, PA and I recently bought a duplex as my first investment property. I do house hack this duplex. I am looking to do some home improvements like new roof and siding in attempt to increase the property value. Also, because it does need this. However, I will have to get a personal loan in order to finance the project. I would like to get another property a year or so after I bought my first which would be around this October. If I take out a personal loan to do the roof and siding project, will that hurt my attempt to land a second mortgage? I was hoping to do a cash-out refi in October for the down payment on the second mortgage. I know I could also use a private lender to help with a second mortgage, but I am having no luck finding one of those either. Any advice/knowledge on the situation would be greatly appreciated.