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Updated almost 10 years ago,
How to Finance
I have a property under contract at 33k, it needs 15k in repairs and the ARV is at least 80k.
What is the best way to finance the deal?
A) Go with a hard money lender for acquisition and rehab, then find another bank to cash out refinance
B)Use a conventional bank for acquisition, a 2nd bank for a construction loan and a third bank to cash out refinance
Has anyone actually obtained a construction loan?
Any advice or direction will be appreciated.
Thank You