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Updated about 8 years ago on . Most recent reply

User Stats

11
Posts
2
Votes
Brandon Poe
  • St. Louis, MO
2
Votes |
11
Posts

Alternative ways to fund a rehab?

Brandon Poe
  • St. Louis, MO
Posted

I'm curious if someone wants to get started with little money and they find a home cheap that needs alot of work. How would they fund the rehab if they are already using a hard money lender to fund the purchase? I've been told most investors want you to have sking in the game and I get that. I currently have $15k saved up, but the houses I find that I'd consider good deals need a bit more than $15k in renovations. For example, I found a house for $29k, that needs in my estimation $40-50k in renovations. With an ARV of $120k. I don't see how I can fund this rehab without a HML covering the purchase and rehab, I'm sure someone on here in a similar situation has used alternative methods. So, I'm curious what would you guys and gals do? Also, my credit isn't that good, so I don't have any credit cards.

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