Financing a rehab project

[Matt Gruver]

Hi everyone,

My name is Matt Gruver, and I'm new to real estate investing. I recently graduated college, and want to start investing in real estate. My plan is to buy a 2-3 unit property and live in one of the units. I want to do a rehab project and wanted to know how financing worked for that sort of project? Since the value will be much different after renovations how do banks treat that? Will they give me a loan for the original cost of the property, and then I'm responsible for the rehab expenses after that? Any help would be greatly appreciated.

Thanks Everyone!

Matt Gruver