Cost of Rehab is Greater than Saved Capital

[Andrew Rellinger]

Hi, as I am looking to get my first SFH rental that I plan to househack, I am realizing that I may not have enough capital to do all the required rehab to tenant proof the property. The details are below:

• Estimated Rehab: $20k

• Funds left over after 3.5% down & closing costs: $4k

• I plan to do all the work myself to save costs

• I am dead set on doing all rehab prior to househacking

• This is my first rehab so I plan on borrowing tools where I can.

What are creative ways I can afford to get the rehab done in a timely manor without maxing out my credit cards or putting myself in significant debt? How did you complete repairs when you didn't have enough money? Did you keep saving before buying a Rehab to ensure you had the capital upfront for both the down-payment and the rehab?