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 almost 5 years ago,

User Stats

55
Posts
23
Votes
Mark Huneycutt
  • Investor
  • Asheville
23
Votes |
55
Posts

Need help with a Rehab loan

Mark Huneycutt
  • Investor
  • Asheville
Posted

I need help finding a Rehab loan or something creative if anyone has any ideas.
The home is in Alaska. It's a 4plex - one unit is a triplex with another small single unit sitting on the same parcel of land. Rents in the past were good coming in at over $4100 a month. It is foreclosed and held by the VA so they're accepting cash or traditional loans, unfortunately no Vendee financing is available given the current market. It needs a rehab loan because the plumbing in the triplex doesn't hold pressure. The smaller unit doesn't have heat now, completely frozen too, but I guess doesn't need to be a part of the loan consideration? Just fixing the triplex up and collecting rent there would be plenty over mortgage while repairing the single unit. The rehab loan I'm currently being offered is conventional at 25% down. I would not be occupying any units. Investment only. Does anyone know of a loan product with less down than this?

Thanks!

Loading replies...