Purchased foreclosure but it needs renovated

[Jamie Singleton]

Hi! I recently purchased a 4bed/2bath 2000 sqft foreclosure for $12,000 in cash. Walked the property with a contractor and for a full renovation, he is quoting $80,000. Good news is comps support an ARV of $175,000.

This is my first foreclosure purchase and first time renovating a home so I am pretty excited about it but would appreciate any advice on loan options guidance for the $80,0000 renovation.