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Updated about 2 years ago, 10/22/2022
Funding the rehab for first investment property
I may have found my first investment property! I am very excited as I think it will be a great investment opportunity. It is a duplex with a purchase price of $250,000. Estimate cash flow is $400 per month as is. I plan to house hack the duplex and use it as a rental property for a few years.
I am concerned because from the listing it says the property needs a lot of renovations done. I'm going to fund the property with a FHA loan, but I don't have the funds personally for all the rehab. I am trying to acquire my first property with low money down as I am just starting out. What do you all recommend I do to help with funding the renovations? I've considered a private lender but I don't know other than that what to do. I also wouldn't know how to find a private lender or where to start