Financing for rehab...
I am looking at a possible property for my first rehab.
I am going to put an offer of 30k.
I estimate 15-20k in repairs.
Houses on that street are selling for 90k-145k
Those numbers seem to sound good.
I have a good amount of experience in construction and feel comfortable I can do all the work myself (with the exception of electrical, should any electrical need to be done I will hire a certified electrician).
My main question is what the best route of financing would be. I don't have good or bad credit, so pretty much no credit. I typically purchase everything with cash and have no credit cards. I don't own any other properties. Anyone have any ideas what would be the best way to get money for the purchase of the house and the cost of the rehab?
As I said, this will be my first rehab investment and I welcome any warnings, concerns, ideas, criticism, etc.
-Martin