How to finance my fourplex rehab?

[Chris Arce]

Hello everyone,

I just closed on my third property , and its a fourplex in St. Louis! Super PUMPED! (first fourplex)

I am currently in the process of figuring out the most effective way to fund the rehab.

With interest rates so high, I'm terrified at what hard money lenders will quote me at... but maybe its the only way.

Any other creative strategies out there other than hard money lenders? I can raise the capital but dont want to give up the equity, hoping i can leverage all of communities expertise and find some awesome alternatives!

Thanks again,

Cris

[Devin Peterson]

Quote from @Chris Arce:

Hello everyone,

I just closed on my third property , and its a fourplex in St. Louis! Super PUMPED! (first fourplex)

I am currently in the process of figuring out the most effective way to fund the rehab.

With interest rates so high, I'm terrified at what hard money lenders will quote me at... but maybe its the only way.

Any other creative strategies out there other than hard money lenders? I can raise the capital but dont want to give up the equity, hoping i can leverage all of communities expertise and find some awesome alternatives!

Thanks again,

Cris

Don’t be afraid of what you don’t know. Yes, HMLs are higher in interest rate on average but if it allows you to get the job done and stabilize properly I don’t see a difference between HML and a private lender. Unless it’s a close family member or friend the rate would most likely be higher for a PML. you can get 100% of the renovation budget covered with a bridge/hard money loan. Private lenders may be capped. Just food for thought. Happy to connect and answer more questions. Good luck!