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What kind of mortgage / loan after building/reno a home in cash?
Hello
I'm planning to buy a lot build or buy and renovate a house all cash and rent it. I've renovated a few properties and have another new construction in the works and all where bought renovated in cash. My wife and I want to start using loans for some properties. Especially a rental to get a monthly payment
If we build new or buy and renovate all cash and rent the house, what kind of loan is right for this? We want to get a lump sum from the loan and have available to re-invest however we want into other properties either to renovate and flip or buy land and start building.
We have excellent credit, extremely low debt, and I work full time on salary. Qualifying isn't a problem, but what kind of loan is good for this?