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Updated about 5 years ago,

User Stats

22
Posts
2
Votes
Christine Edwards
  • TX
2
Votes |
22
Posts

Looking for advice on financing options to cover rehab

Christine Edwards
  • TX
Posted

I have a rental property currently leased through May 2021 with about $60,000 in equity.

I have my personal home that is in desperate need of an upgrade.  Purchased foreclosed property.  Was using savings/credit cards...etc to fix it up.  Now the items that need done are larger, i.e, siding, roof, windows, electric upgrade.  etc.etc.

The second home  current appraisal $150,000, balance 128,000.  After rehab value could be in the range of $400,000 based on recent sales of other rehabbed homes in the area.

Just not real sure which way to go from here.  I am sure I didn't include some information I should have.  Please ask questions.  I could really use some guidance on what to do.

Thank you in advance for your help

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