I need some loans for rehab/remodel and bring up to code

Detroit, Michigan
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I need some loans for rehab/remodel and bring up to code

Olga Buchonina
Member since 2022 · 2 posts · 0 votes

I am new to this forum. I would like to find someone who can help me to find a loan/investor to do rehab/loan/inverstor on two houses I own in Detroit. Where should I start. 

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  • Caroline Gerardo
    Lender · Washington DC · Member since 2015 · 2k+ posts · 2k+ votes
    3y

    Value of each home as is; what work needs to be done to bring to code and to make it more rentable; cost of the rehab; time frame to finish; have you done this before; do you have a contractor; what supplies you need and how long will that take; do you plan to rent or flip them; completed value; your FICO; own them and want a refinance it is in your name?...

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  • Olga Buchonina
    OP
    Member since 2022 · 2 posts · 0 votes
    3y

    Value if fully flipped is about 75K. Most of repairs will be about 25K per house. I do have a contractor and I have done my own houses before, time to finish - ASAP. Most likely it will take 3 months - 6 months depending on weather in Detroit ( winter time). I plan to rent it out, flip is also possible. FICO I will not disclose on forum. I own both, no need to refinance.

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  • Andrew Garcia
    Lender · Charlotte, NC · Member since 2022 · 739 posts · 410 votes
    3y

    Hi @Olga Buchonina, more information would be needed but thank you for providing a few more pieces of information. I can refer you to a lender that can help if you would like.

    Feel free to reach out and I will get you connected.

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  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 13k+ posts · 9k+ votes
    3y

    how much and are they in the City of Detroit?

    [email protected]248-209-6824
    Logical Property Management4.9469 Reviews
    WebsiteView Page
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