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Updated over 11 years ago on . Most recent reply

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14
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0
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Decorium Johnson
  • Investor
  • Atlanta, GA
0
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14
Posts

Should I finish out of pocket rehab and then borrow.

Decorium Johnson
  • Investor
  • Atlanta, GA
Posted

Hello BP I have a question I have 2 homes I purchased back in 2012 in Atlanta at the
Bottom of the bubble 1 at 21k 1 arce and other 12k on 3 arces cash 4 sside brick solid home on 1 arce both in the Ben hill area sw Atlanta my question is both free and clear I also have my personal home which is in a 3 mile radius of each other which is fin. Low payment because of been a disable vet. I was wondering should I finish rehab out of pocket which I sat down with my contractor all work and labor to
update would be about 8k should I finish home then get a loan to finish other at 20k which is the 3 acre home on lake which I would down size and live in it and rent my current home and the 1 are home my personal home with Mort. Is 730.00 a month with taxes and all rent for that location is between 1350-1500 which my niegbors are paying now (1500) near same floor plan 3 are home is about 1000-1250 rental comps and 1 are is around 1100-1300 for it in that neighborhood I'm fin. Stable and could finish 1 acre property out of pocket . should I finish it pull money out on it and finish 3 arce home or just slowly do it out my pocket once my renter move in the only big expense is the 7

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