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Updated about 7 years ago on . Most recent reply

Candace Ellison's profile image
Candace Ellison's profile image
Candace Ellison
  • Property Manager
  • from Murfreesboro, TN
  • Member since Oct 29, 2015
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User Stats

85
Posts
48
Votes
Candace Ellison's profile image
Candace Ellison's profile image
Candace Ellison
  • Property Manager
  • from Murfreesboro, TN
  • Member since Oct 29, 2015
Connect
Candace Ellison
  • Property Manager
  • Murfreesboro, TN
48
Votes |
85
Posts
Rehabbing & House Flipping

Need rehab loan for free and clear property

Candace Ellison
  • Property Manager
  • Murfreesboro, TN
Posted

I have a property given to me by my father. Its free and clear but has been condemned by the city. It's estimated to be worth 35k "as is". The property is in an area that is being heavily revitalized and very popular. It would be worth 150-160k ARV possibly more. Needs about 50k in repairs. I don't have much cash of my own and will need a HML to fund the rehab. Are funds given to you up front or as the work is completed And how much money down if any is usually required?

What kind of questions should I ask contractors? 

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