Triplex under contract, issue with financing.

[Chad Duncan]

Hello,

I have a triplex under contract, but my financing wont go through because its in bad shape. 

What options do i have to finance the property with the seller? Other options without the seller. 

It requires about $60k in rehab, and I want to get some cash from the seller or a bank for that. 

Any ideas?

[Chris Ono]

Hard money financing and also a rehad loan might be an option. Post rehab you can look to implement the BRRRR strategy.

In the latest podcast they talked about high interest rate in hard money, but if you can rehab it quickly the high interest rate is less detrimental. I took that as an aha moment.