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Updated about 5 years ago on . Most recent reply

User Stats

22
Posts
3
Votes
Kristen Buckley
  • Rental Property Investor
  • Long Beach, NY
3
Votes |
22
Posts

Line of credit to do small rehab on rental unit?

Kristen Buckley
  • Rental Property Investor
  • Long Beach, NY
Posted

Hi All- New to real estate investing and looking for some guidance/feedback from everyone here on BP.

I purchased a duplex in September and put 25% down but want to do a bit of rehab to the property (new windows, flooring, update some of the kitchen). I just redid both bathrooms that was unexpected because of a leak and used the cash flow saved up since I got the house. I want to be proactive with this older house instead of just reactive and eliminate some future headaches.

Is it a good idea to take out a LOC to pay for rehab costs, a personal loan or some other financing options?

Appreciate any help on this topic.

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