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Updated almost 5 years ago, 02/03/2020

User Stats

23
Posts
10
Votes
Marcus Cannady
  • Investor
  • Atlanta, GA
10
Votes |
23
Posts

How soon can I c/o refi a home that I'm rehabbing

Marcus Cannady
  • Investor
  • Atlanta, GA
Posted

In lieu of drumming up cash elsewhere I'm looking at cash out refinancing a home I'm currently rehabbing. I'm not overly concerned with max ARV at this point. Numbers: 113k purchase, ~40k rehab, 300k ARV.

I have ~20-30k on hand to do the rehab, but I will run out of cash before the deal is fully rehabbed. As such, I'm curious to know the bare min that I need to do to get me to a rehab to help me finish the rehab. 

I'll do a HELOC when the house is fully rehabbed, at which time I should be able to have an appraisal done that fully respects the projected ARV.

I hope this makes sense, thanks for any insights shared!

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