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Updated over 2 years ago,
Finding Funding for my First Rehab?
Hello BiggerPockets family! I hope all is well in your investing journey! I am officially under contract on my first property that will become my first investment. I am going to BRRR/Live-in Flip/House hack this property. I know it sounds like a lot but I have a plan underway. I am a licensed contractor in the state of Michigan so remodels and rehabs are my strong suit. Now, enough about me and more about the property. Single family home under contract for 190k ARV is around 250-260K. This is a conservative estimate. The property will need apx. 20k to rehab. Here is my dilemma after down payment and closing costs I will not have the funds to rehab the property. I have the know-how and expertise to do most of the rehabs myself, as they are mostly cosmetic. As well as the ability to contract out work under my own license.
My question: What is the best way to raise the funds for this rehab? Understanding that this is more of a live-in flip than a standard flip?
Ideas? Thank You !