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Updated almost 10 years ago,

User Stats

47
Posts
10
Votes
Lorenzo Jackson
  • Residential Real Estate Agent
  • Philadelphia, PA
10
Votes |
47
Posts

How to Finance

Lorenzo Jackson
  • Residential Real Estate Agent
  • Philadelphia, PA
Posted

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

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