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Updated over 1 year ago,
Looking for advice for best loan
Hi,
I have a small SFR (1/1) that I purchased for $14K cash. It was a total gut job (rewired everything, all new plumbing, new walls, etc). We now have roughly $55K in it (including purchase). We have only owned it for 4 months now. We are finished and it will be rented out in a few weeks.
What are our options to finance this house to get some (or all) of our cashback? Since we have only owned it for 4 months, I am not sure what our best options are. My credit score is 795. I have a W2 job and we also own a restaurant(my wife runs). We own 4 other SFR's that will be rehabbed and either sold or rented. We paid cash for everything and now we need some cash infusion into the business. We employ 3 guys that are doing most of the rehab work. We are subbing out roofs, plumbing, & electrical. Not sure what other information would be helpful.
Thanks,
John