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Updated over 2 years ago,
Rehab months after purchase
Hey guys, I purchased my first property, a duplex, back in early April. At that time the property did not need any huge rehab needs, more cosmetic stuff later on. So I fixed immediate concerns such as a leaky toilet, broken handrail, etc. I didn't want to do too much at first and overwhelm myself on my first deal.
Now, I am thinking of giving it a cosmetic facelift to raise rents. My question is, what are the options to fund this? I know if I was doing a BRRRR, a hard money loan could have helped with purchase and rehab but is a hard money loan ideal for just rehab? Would I still have to refinance to pay back the lender if I did that?