BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated over 3 years ago on . Most recent reply
Shop to house conversion
Have my eye on a 2 lot package in a desirable area.
On lot had a mobile home which has been removed but there is a cement pad still. The other lot has a CMU garage/shop on it.
My plan is to turn the shop into a house.
It would need: a new septic, plumbing, a few windows, eventually a new roof, some layout modifications etc.
Would like to fix it up this year and move on next summer.
Might be able to pay cash for it but need advice on how to best finance the rehab. Was thinking line of credit??
Anything I should be aware of?