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Updated over 4 years ago,
Financing for Renovation part of BRRRR
Hi Everyone!
Recently closed on my second investment property! My intent is to BRRRR this deal. I'm doing some research and trying to understand what the best way to finance the rehab portion. Would it be a personal loan from SOFI or a similar company? Or is there a lender who would pay for the Rehab and funnel that straight into the cash out refi?
Deal Facts(Located in Philly)
85k Purchase Price
40k - Rehab
170k - ARV
Expected Rent(Per Rentometer) - 1350