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Updated over 6 years ago on . Most recent reply

Courtney Staples's profile image
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Courtney Staples
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Creative Real Estate Financing

Funds for Flipping A Home You Own?

Courtney Staples
Posted

Is it possible to get a funding from a hard money lender to rehab a home you already own before you sell it? Or are there any other recommendations? 

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Perry Farella's profile image
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Perry Farella
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  • from Chicago, IL
  • Member since Aug 4, 2016
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Perry Farella
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  • from Chicago, IL
  • Member since Aug 4, 2016
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Perry Farella
  • Lender
  • Chicago, IL
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Perry Farella
  • Lender
  • Chicago, IL
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There is a rehab loan that can be done as a refi to pay off the current mortgage plus add dollars to rehab. Its based on what the future value will become with the rehab installed. So a HELOC would only consider todays value, not the updated future value.

I have done many of them with investors and happy to answer questions.

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