Renovation loans Help!!!!

[Samuel Girouard]

Hey guys, 

I recently closed on my first multi family in the Worcester, MA area and have some renovations that need to be done including the roof and minor touch up. I'm wondering what you all have found the best way to finance your renovations as far as home improvement loans or personal loans. I have some money in the bank to finance myself though why use my money? 

Thanks, 

Sam

[Andrew Freed]

@Samuel Girouard - If you have the option, I would 100% do a HELOC. Interest only for the first 10 years at near the federal discount rate, you can't find cheaper money than that other than 30 year fixed loans. I used a HELOC to buy my last 3 properties. Feel free to DM me if you have any further questions about this financing strategy. I'd be happy to recommend a few banks.