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Updated almost 4 years ago on . Most recent reply

User Stats

216
Posts
91
Votes
Mario Morales
91
Votes |
216
Posts

Financial Planning/Rehabbing Advise Needed

Mario Morales
Posted

I just got a multi-unit and I need to upgrade unit, as rent is under market value by $300-$400. It's going to cost about $10K appliances, cabinets, paint, windows, HVAC. I have $13,000 in cash and a line of credit for $22K @ 9.5%. I have another building that nets $1500 a month as a backup for now. Should I use my cash to upgrade unit or should I use my line of credit or combination? ALL AND ANY ADVICE WILL BE DEEPLY APPRECIATED!!!

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