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Updated 6 months ago on . Most recent reply
Need money for renovation. Have two "no mortgage" properties. What are my options?
Okay, so I have a property that I want to renovate. I'm going to need about 60k-70k. I have two other properties with no mortgage that are cash flowing nicely. At this time, what is my best option for getting the cash I need?
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Quote from @Lauren Ruppert:
Okay, so I have a property that I want to renovate. I'm going to need about 60k-70k. I have two other properties with no mortgage that are cash flowing nicely. At this time, what is my best option for getting the cash I need?
A cash out loan is going to be cheaper then a hard money rehab loan in both interest rate and upfront costs. So I would suggest a cash out loan assuming you can qualify etc.
- Jay Hurst
Hurst Real Estate, INC
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