Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago,

User Stats

70
Posts
15
Votes
Steve Sapowsky
  • Investor
  • Granby, MA
15
Votes |
70
Posts

Financing my first rehab

Steve Sapowsky
  • Investor
  • Granby, MA
Posted
I will be closing on my first deal in the next couple weeks and I have the funds for purchase and closing. What are my best options for financing the rehab? (Appx $120k) I am a GC and will be doing a lot of the work myself so the cost probably won't get that high but I want to be realistic and plan for any unforseen challenges. There are two houses in the deal. Our plan is to fix up the smaller one right away so we can start renting it out ASAP. then move onto the larger house which we will renovate and live in until we finish building our own home elsewhere. Once we move out we will also rent out this home. Combined rents will be somewhere between $2000-2300. Are there any lenders on here that would finance initially for say interest only payments for 6 mos-1 yr until we could refinance? Are banks our best option? Looking for some creative feedback. Thank you!

Loading replies...