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Updated over 4 years ago on . Most recent reply

Matthew Shultis's profile image
Matthew Shultis's profile image
Matthew Shultis
  • Lender
  • from Delray Beach, FL
  • Member since Aug 8, 2017
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Matthew Shultis's profile image
Matthew Shultis's profile image
Matthew Shultis
  • Lender
  • from Delray Beach, FL
  • Member since Aug 8, 2017
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Matthew Shultis
  • Lender
  • Delray Beach, FL
8
Votes |
22
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Rehabbing & House Flipping

Financing a rehab with 3 friends

Matthew Shultis
  • Lender
  • Delray Beach, FL
Posted

3 friends and I are flipping a house in south central PA and we are exploring ways to finance the rehab. We are buying the house with cash for 60k but need to finance the rehab which we estimate to be around 80k. We estimate the ARV at 225k and the rehab to take 4 months. Suggestions for the best way to finance the rehab between 4 people?

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Stephen Kehoe's profile image
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Stephen Kehoe
  • Property Manager
  • from Maryland
  • Member since Apr 24, 2015
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Stephen Kehoe's profile image
Stephen Kehoe's profile image
Stephen Kehoe
  • Property Manager
  • from Maryland
  • Member since Apr 24, 2015
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Stephen Kehoe
  • Property Manager
  • Maryland
125
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186
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Stephen Kehoe
  • Property Manager
  • Maryland
Replied

If you get a commercial loan you can get the rehab financed. I got a quote for a commercial loan yesterday for under 6 percent interest. How about a 203k loan? There is so much meat on that deal that you could use hard money. 

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