Should I borrow money for renovation on a purchase rental?

[Watson Josue]

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.

[Harrison Smith]

@Watson Josue Congrats on taking on the 90 day challenge and taking action. 

@Mark Wurtemberg offered up a few good options (outside investor, 0% credit card, and 401(k)). Another option would be a HELOC on a primary residence (if you own) or a LOC secured by an investment account or other asset. Hard Money could be a potential last resort, but only if you can refinance that loan in the short term since the cost is high and term is generally short.

Whatever path you choose, best of luck on your investment.