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All Forum Posts by: Stephen Stricklin

Stephen Stricklin has started 1 posts and replied 3 times.

Private Lending & Conventional Mortgage Advice

Post: Best loan to renovate house?

Stephen StricklinPosted
  • Posts 3
  • Votes 0

@Andrew Postell, you have been very helpful.  Thank you so much!

0 Votes
Private Lending & Conventional Mortgage Advice

Post: Best loan to renovate house?

Stephen StricklinPosted
  • Posts 3
  • Votes 0

@Andrew Postell

1. I do not plan on living in the home.  My current plan is to keep the house as a rental.

2. ARV should be $159,000.

0 Votes
Private Lending & Conventional Mortgage Advice

Post: Best loan to renovate house?

Stephen StricklinPosted
  • Posts 3
  • Votes 0

Hello everyone.  I am new to real estate investing and bought a foreclosed historic house in Little Rock, AR five months ago with cash.  The house needs a total renovation and fortunately qualifies for the state and federal tax credits (45% total) for the renovation.  The purchase price was $36,000, and the contractor said it may cost close to $100,000 for the renovation.  My question is what is the best type of loan for this situation?  Has anyone had any experience taking advantage of tax credits for historic homes?  Any advice will be greatly appreciated.  

0 Votes