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Updated about 4 years ago,
First property advice
Cash flowing a wedding and trying to fix up my first property! Advice needed 😬
Bought a property for 100k with a 1100sqft 2/1 house and a studio in the rear 600sqft. I will more than likely live in the front unless my potential tenant decides she wants the front.
I spoke to my old man and he says it’s a terrible idea to get a loan to fund the remodel, I have roughly 5 months till it’s needed to be finished or my potential tenant will bail. I also am cash flowing a wedding at the same time. Any advice on whether it’s smart to just put up walks here or there to get the job done? Or pull a loan to knock OT out and then refinance the property once BOTH homes are finished and pay back that loan?