What's the best way to secure $100k for a build or rehab in South

[Michelle Boyd]

I want to use as much loan as I can deploy.
I'm estimating $100k for material & labor for down payment for a build but less for a rehab. I do have access to equity. My home is worth $247k and I paid it off at $135k. I have access to a 401k and/or a gift of $30-50k. How much would I need access to in order to borrow $100k to build or rehab? What's the best type of loan product for this, to have a low monthly payback? Also, if I got a HELOC or cash out refi, would I be paying back two things at once?

Go easy, I'm new to RE but want to invest but want to wisely obtain funding. Thanks for your seasoned input and for interpreting and responding to the question that I may not even have asked.

Michelle

[Brendon K.]

One option you might not have considered is hard money (personal money) lenders. There are plenty of people who recommend not using your own money at all if at all possible and just using hard money instead. It can make a lot of sense, especially if you want a second pair of eyes on any deal you are looking at.