If you are going to be an owner-occupant, want a low down payment, and are planning to do a renovation, the FHA 203k and Fannie May Homestyle loans are your best optionsHow do you know the property is currently upside down on the mortgage? 

The agent puts a lot of time into finding and showing you potential properties.

There is no perfect property. 

So what if the heloc amount is enough to cover 20% down on investment property and cover renovations.

It’s a balancing act of controlling costs while also controlling risk of personal injury to your tenants and property visitors as well as maintaining goodwill with all involved at the properties. 

Pilot a unit or two with this renovation spec and see how much demand you get from QUALIFIED applicants.  

I'm looking for advice on a situation with an investment property my business partner and I purchased in June 2024 under our joint LLC in Springfield, OR.

It was a personal referral, received a credit at closing for renovations as well How did you finance this deal?

Since the tenant has been there a long time your market rent will be less than market rent for a newly renovated place which should be a consideration of the tenants.

Purchased on 2/1/2024 for $58,500, we invested $55,000 in renovations to enhance the property’s appeal.