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Updated about 8 years ago,

Account Closed
  • Investor
  • Jefferson , NY
6
Votes |
13
Posts

Looking for rehab money in Upstate NY..

Account Closed
  • Investor
  • Jefferson , NY
Posted

Sup BP! I just bought my 2nd property, a foreclosed 6/2 duplex that needs a good chunk of work about $40k - 50k in rehab. I bought the place via credit card cash advance @ 6%, a small loan @ 6.99%, and some cash. Rehabed comps in the area are on market for about twice our full purchase price plus rehab estimate. We need financing for the project. I CAN use credit cards but would rather not. I could also try for another loan from a local credit union. Is there a grace period expected between two loans being opened? If anyone can point me in a direction of ways to finance this deal I would appreciate it.