1st property bought!!!

[Sven Segers]

Hi everyone,

I just bought my 1st property in Springfield, MO

a little bit about the house: it's a 1100sqf house 3 bed 1 bath. bought it for 25k cash. Haven't been inside yet. now the next step is rehab the place.

What is the best way to do this?

Does anyone know a general contractor that does financing?  I do have a little bit of cash but would like to keep that just in case.

Or would it be better to try to get a rehab loan from the bank?

Thank you in advance,

Sven S

[Sven Segers]

Sorry, my bad for the lack of info. :)

So I'm a truck driver and kind of wanted to do a buy and reno without me being there. That said, I bought it with the intention it to be a learning property for me. bought it cheap, no payments so no stress. I can understand that you think it's bold and maybe it is lol. Seen pictures of the insight tho and needs quite a bit of reno. I probably have to find someone that can go do a 1st look and maybe a rough estimate if possible.

It will be a rental. After research, I guess it'll be about anywhere from 60k to 70k worth if renovated and about 800 dollars in monthly income.

I know its not the perfect way of doing things and hope it will all work out, but I'm eager to start that 1st rental without me having to stop driving. got to keep the $$$ coming in lol

Any tips are welcome