How to fund the rehab?

[William Bucklin]

Hey everyone! I just purchased my first property which I plan on BRRRRing. It was a owner financed deal. The property was 29,900 with 25 percent down, 6 percent interest on a 10 year loan with a 5 year Balloon. I’m limited on cash and am looking for the best option for funding the renovation. Any suggestions? Thanks

[Amy Kendall]

Congratulations on your first purchase! Do you have a primary home that a HELOC would be possible? If not, maybe you have connections with other investors, hard money lenders, or family that could lend you the money for a limited time in return for a fixed amount of interest. Whichever way you go, just make sure you will have plenty of money when you refinance to pay off all your debts.