Real estate Update!!

[Jerryian Francois]

Hey guys I’m in need of some Advice !

So one of my Ltr tenants have broken the lease that we had in place and he have successfully moved out ! Which mean I now have 1of 3 units free he was suppose to leave this year November

Now the problem is I have already been in the process of trying to get a Heloc to cover the renovations I plan to do to the u it's but it's looking like me and my partner DTI is making that difficult and we might have to pivot were given the option to use a DSCR Loan to cover the rehab instead but that mean I would lose my currrent low mortgage Rate to do this loan which I didn't want to Lose but with renovations I will be making double on Airbnb ! Potential 80-100k if renovated correctly would love to hear you guys input really would appreciate it !

[Richard Elvin]

@Jerryian Francois Could you get a personal loan for the rehab? Interest would be worse, but shorter term. If you could pay it back from the STR income it might make sense.

Just my two cents, trying to think outside the box.