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Updated over 7 years ago,

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1
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0
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Jeremy Wayman
  • Investor
  • Magna, UT
0
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1
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Financing for capital improvements with bad credit

Jeremy Wayman
  • Investor
  • Magna, UT
Posted

I am a part owner of an LLC that owns 2 fourplexes that are in need of new roofs. I do not have the cash on hand to pay for the roofs. We have relied on my partners credit in the past to obtain financing but due to a large number of repairs that have been put on credit cards we no longer have sufficient credit for our credit union to approve any additional financing. Credit score of 600 when applying. We have lots of equity in the fourplexes (at least 250k each fourplex) and in primary residences but bad credit. I need to find a way to refinance 40k in credit card debt that has been spent on the property and find another 20k for new roofs. Any suggestions of where to look?

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