Thanks @Peter T. and @Nathan G.

With that in mind, are there better option to obtain the money/loan to make those renovations aside from equity/cash equivalents.

Im just getting into real estate and need to obtain my license first to become an agent but I’ve been looking into eventually investing too.

She was also required to obtain a new certificate of occupancy (rental license), and she couldn't afford to make the necessary updates to comply with codeHope this helps!

@Jeff Halverson, you mean agents don t get excited about 2% x 600k?

Typically, if the buyer is going to purchase with a mortgage then their contract to purchase the property will include a clause that they will have the option of exiting the contract if they cannot obtain financing as specified in the contract.

Yes, it makes me annoyed that they obtain a large chunk of money that was potentially mine and of course I wonder how to avoid that, but at the end of the day it is what it is and all is fair and well.Also, on a personal note, realtors are experts in manners, and I tend to be the bull in the china shop sometimes - lol - I'm not everyone's cup of tea.I might add some more but everyone else already nailed it.

Hi, I am seeking advice on obtaining financing for a quadplex in Southern New Jersey.

Full recourseBig advantages are that it is cheaper to obtain the loan, much more flexible and has no or low pre-payment penalties.Call some more lenders.

@Lydia T. is on the money with that one.