Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Rehabbing & House Flipping
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 13 years ago,

User Stats

3
Posts
0
Votes
N Modi
0
Votes |
3
Posts

Financing question for rehab property

N Modi
Posted

I am looking to purchase rehab property in NJ. Property has five apartments, retail stores at ground level as well as separate small warehouse/office. Asking price range is around 500k.
Property requires rehab prior to renting out. There are no tenants in apartments or in retail. Question is about financing the deal. Considering there is no cash-flow being generated when purchasing the property as well as rehab work required, what is the best way to approach financing?
My credit is excellent but I wish to put no equity (also wish to finance rehab expense). I am not interested in going through hard-lending route. Does banks/credit union provide construction loan for rehabbing property or would they provide mortgage (purchase price + rehab expense) on entire property? What kind of terms would I expect for this type of loan? Also, if you can recommend bank/credit union dealing in this type of scenario, it would be appreciated.
Thanks

Loading replies...