Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 2 years ago,

User Stats

3
Posts
0
Votes
Ali Gencarelli
0
Votes |
3
Posts

5 mortgage free properties left in inheritance

Ali Gencarelli
Posted

Hi, I need some help. I have 5 properties left to me after my father passed away. However, 3 need major repairs, new kitchens bathrooms, insulation, plumbing you name it it probably needs work. I was raised in a cash house hold and we very rarely ever used credit so I have no credit because I was raised with the if you can't afford it you don't need it mentality. That being said I also have no debt. I know if I want these properties to succeed I need to change my feelings on debt but because I have no credit I'm having a hard time financing. How can I finance what looks like potentially 100k worth of work on these properties? I would prefer not to have to sale. 

I've thought about getting a credit card or a small loan to build my credit but I also have 1 property that most of the major work is done. It just needs some rather expensive finishing touches and I am out of cash. 

Thank you for your time!

Loading replies...