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Updated over 2 years ago,

User Stats

6
Posts
2
Votes
Ahmad Houston
2
Votes |
6
Posts

Stuck in a BRRR NEED HELP! Made a rookie mistake

Ahmad Houston
Posted

So I need help figuring this out. I bought this gorgeous brick Duplex right before the market went up for 60k and at the time i purchased it because i had a partner that was going to finance the rehab (35-45k). the ARV is 150-190k but they backed out. I ended up pressing forward with the property and made a rookie mistake being frustrated with my partner backing out, I started gutting the upstairs unit place myself. Later found out from navy fed when i went to get a HELOC that because the unit upstairs was gutted that i couldn't access my equity until the unit is put back together. So Im stuck now trying to find the money to finish the project and access my 100k in equity.

I also own a 3br 1b house free and clear with a long term renter paying 650/mth 

please help me figure this out or point me in the right direction on how i can get over this hump and on to my next deal

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