Updated about 5 years ago on . Most recent reply
Need creative financing advice
I want to buy a 4 unit building that is literally stripped down to the studs on the inside. It needs everything. Heat, electric, plumbing, etc.
How can i finance this? I cant house hack since my wife and I already have an FHA on our primary home. Otherwise I'd be looking at and FHA rehab loan. I want to use as little cash as possible.
Would a bank even give me a mortgage on a property in that condition? And what would be the best way to finance the rehab? Im thinking I could snag the property for around 40k and if I’m estimating correctly, rehab would cost around 125k. Ive read Brandon’s book on investing with no or low money down, and Im still not seeing a way for me to do this.