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Updated over 7 years ago,

User Stats

16
Posts
5
Votes
Watson Josue
  • Atlanta, GA
5
Votes |
16
Posts

Should I borrow money for renovation on a purchase rental?

Watson Josue
  • Atlanta, GA
Posted

Hi My BP family,

I'm on a 90 days challenge to buy an investment rental property. I am currently in the process of buying a duplex that should be closed by end of November. Since this is my first time, help me with this question: 

The purchase price is $100k with a 25% down. I only have the down payment available. I don't have any available cash for renovation. I want to do some works on the property in other to raise cap rate. How can I go about finding the money to renovation if I don't have any more cash?

Thank you.

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