Considering loans for large repairs

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Considering loans for large repairs

Andrew MarinoPro Member
NY · Member since 2020 · 12 posts · 1 vote

Hey everyone--

I have a duplex just outside Pittsburgh, that requires about $25,000 worth of repairs. Are there any lenders out there that can provide a loan for such an amount? I'm planning to buy and hold the property, not fix & flip. Any advice would be greatly appreciated!

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  • Hannah WollmershauserBusiness Member
    Lender · Orange County, CA · Member since 2024 · 21 posts · 8 votes
    2y

    Hi Andrew! Does the property have a current lien? There a few great options if you want to refinance into a fix & hold. It all just depends if property is free & clear, current rate if there is a lien, etc. Feel free to message me if you want to go over your project in more detail. 

    [email protected]949-844-7270
    Starlit Realty Capital512 Reviews
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  • Jacob Sherman
    12 Penns Trail Suite 138 Newtown, PA 18940 · Member since 2023 · 1k+ posts · 319 votes
    2y

    are you buying it for cash or obtaining financing ? 

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  • Jeremy TaggartBusiness Member
    Real Estate Agent · Pittsburgh, PA · Member since 2014 · 850 posts · 646 votes
    2y

    @Andrew Marino is this a new purchase or something you already own and you are just looking for someone to fund the rehab?

    DHRE- The Jeremy Taggart Team590 Reviews
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  • Andrew MarinoPro Member
    OP
    NY · Member since 2020 · 12 posts · 1 vote
    2y

    Good morning, Jeremy--it's the latter. I already purchased the property in 2021. Now I'm looking for assistance with some expensive repairs.

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  • Andrew MarinoPro Member
    OP
    NY · Member since 2020 · 12 posts · 1 vote
    2y

    Hi Jacob--this is a property I already bought in 2021. I'm looking for help paying for some expensive repairs.

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  • Jason Potrzeba
    Lender · Warwick Rhode Island · Member since 2023 · 37 posts · 20 votes
    2y

    My bank offers the Title 1 home improvement loan. The 25k you are looking for fits within the guidelines. Feel free to reach out.

    Thanks

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  • Andrew MarinoPro Member
    OP
    NY · Member since 2020 · 12 posts · 1 vote
    2y
    Quote from @Jason Potrzeba:

    My bank offers the Title 1 home improvement loan. The 25k you are looking for fits within the guidelines. Feel free to reach out.

    Thanks


     Thanks, Jason! I DM'd you.

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