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Updated over 4 years ago on . Most recent reply

User Stats

7
Posts
1
Votes
Fareed Simpson Hankins
  • Philadelphia, PA
1
Votes |
7
Posts

203k Loan Question.....

Fareed Simpson Hankins
  • Philadelphia, PA
Posted

Im new to the site, and have begun analyzing properties, educating myself and building cash reserves until I’m ready for my first deal.

I've found a duplex a few mins from where I grew up (Philadelphia) that comes out to a nice cash flow and nice CoC ROI%. To me, it looks like the garage has the potential to be converted into a unit. Probably not suitable for a long term rental, but could be nice for something like Airbnb to generate some more income. It's a pretty big garage separated from the house. Assuming no utility services are currently in the garage. Could that kind of rehab be included in a 203k loan? If so, what kind of cost

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