What to do when you need money on your personal residence?

[Mike Lowery]

Hello BP world!
I have been rather quiet in the last couple of months and have actually been focusing my time and efforts on a potential job opportunity that would be best for my family. With this opportunity though comes some major change as we would be leaving the Milwaukee area and heading to the Houston area. That being said, I have a couple questions regarding the exit strategy for my personal residence.

1) Is it more beneficial to complete all the work, minor and major (IE: Windows, doors, trim, interior lighting, etc.) and try to sell for top value while obviously putting a bunch of money into it?

2) Should I just do the minimal work to get it into a state where I can off-load it quick, but limit my potential for profit? Obviously this would be cheaper than option #1.

3) If I do opt to do all the necessary work, what options would I have to acquire the remainder of the funds I would need to complete the work. Private Money, Hard Money or a lender are the options that I am aware of.

Some other things to consider (please take into consideration I purchased my house well before I knew about BP and never thinking it would be a short-term flip or rental property)

Current Mortgage Balance: $91K

Projected Improvements: $15-20K (Option #1) $3-$5K (Option #2)

ARV: $120-$130K based on current market conditions, comparables in my neighborhood, etc.

Any comments, suggestions, concerns, would be greatly appreciated.