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Updated about 8 years ago,
Rehab loan needed for distressed property
I plan to make a cash offer on a distressed property, however this will eat up all of my cash leaving nothing left for the rehab. I hope to purchase the house for $170k and need $130k to spend on rehab. I have talked with a broker and a credit union and neither offer financing options for this situation. I will rehab this property then move my family in to it to homestead it and sell in a couple years. What are my options to obtain the $130k needed for rehab?