Long distance property

[Mary A.]

Hello everyone,

This is my first time posting. I am finally starting my real estate venture, I live in PA. Here is my situation. I have a property in Atlanta, GA. I was supposed to have someone go down there and fix it up...that didn't happen. It is now boarded up through VPS (vacant property services..or something to that effect.)

A couple of real estate investors have contacted me to buy the property, but I felt the offers were very low. The property sits one block away from the HBCUs in Atlanta as well as being in very close proximity to the (now under construction) Beltline project.

Should I go through a personal loan or a private lender? I have reached out to my credit union who is looking into seeing if I can get a commercial loan to fix up the property. 

Just need a bit of direction

Any insight would be great.

Thanks

[Nick C.]

The clues in your post lead me to believe that the property is in pretty bad condition? If this is the case you're going to have more luck through a private lender or a hard money loan. If you own the property free and clear you can borrow against it. Although this doesn't solve the issue of who is going to fix it up...