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Updated about 3 years ago on . Most recent reply

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10
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1
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Sean McManus
  • Rental Property Investor
  • Winston Salem, NC
1
Votes |
10
Posts

Buying me first deal trying to find financing for renovations

Sean McManus
  • Rental Property Investor
  • Winston Salem, NC
Posted

Working on getting my first deal under contract. It will be financed as an investment property. I have the down payment saved up through a cash out refi of my primary residence. I have spoken with several conventional lenders and although I have no problem getting money to purchase the property I am having a difficult time finding someone to finance the renovations. The 25% down will take most of my liquid cash. I guess last resort would be private money/hard money/credit cards. Does anyone have any other suggestions? Looking at approximately 50k or so in rehab. Thanks in advance!

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