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Updated 9 months ago on . Most recent reply
Need loan - low liquidity but assets as collateral
Hi BP,
I'm looking at a house that I've been eyeing for a few days. It's a total gut job but I believe it's priced accordingly - I'm going with a contractor today to get some numbers since the area it's in houses have sold for over double. My question is, if this is a deal that makes sense I do not have a lot of cash on hand - what type of lending would I be able to get or should I look for to buy and renovate this property. While I do not have a lot of cash I have a property that has appreciated more than 80% from when I originally bought it a few years ago - would this help me offset the low cash in the POV of an investor? Thank you
I'm looking at a house that I've been eyeing for a few days. It's a total gut job but I believe it's priced accordingly - I'm going with a contractor today to get some numbers since the area it's in houses have sold for over double. My question is, if this is a deal that makes sense I do not have a lot of cash on hand - what type of lending would I be able to get or should I look for to buy and renovate this property. While I do not have a lot of cash I have a property that has appreciated more than 80% from when I originally bought it a few years ago - would this help me offset the low cash in the POV of an investor? Thank you