All Forum Posts by: Cesar Chin

Sorry, through of another question.

Okay just to be sure I understand. If I were to purchase the property tomorrow (100k) and the with equity (120k). I can use the entire 20k to fund the rehab and then pay the mortgage plus the equity credit monthly then later refinance property a few months to a year later? 

Hopefully that made sense. 

Thank you so much for responding. 

Last question, as a first time buyer, when would it be a great time to utilize my equity line of credit to fund the rehab? I am wanting to hold the property at least 2 years (renting the property during that time) and then sell, would it be plausible to use the equity line of credit then? 

thanks again. 

Would using an Equity line of credit to rehab a property be a smart thing to use every time when purchasing properties for rental purposes?

@Roy Moses

Thank you so much for responding

It is actually a workshop, therefore it’ll need a newly installed kitchen/bathroom and the set up will more than likely be a studio.

According to other investors, there are a few properties with the in law suites in the back of the house.

Plus, this area is close to the main hospital and Air Force base so possibly the value of the guest house can be good?

Not sure

Currently doing an analysis on a house

4 bed 1 bath, 1,857 sqft

1948

on the market for +90days

Asking for 111,900k

Will ask for 105k (we’ll see)

There’s a workshop that can be possibly fixed up and covered into a guest house (in law suite)

Question is what is the potential value of a guest house?

Sqft of the possible guest house is 400sqft or so. Sorry don’t know the actual sqft.