Lending for Repairs

[Monica McCaskill]

I just inherited a property in Wilmington, NC which I would like to use as an investment property. The property does not have a mortgage. I need to make repairs to the home prior to renting it out (~$15,000). I am looking for lending options I can use to make all the repairs. I would like to use an option with lower interest than the credit cards I have used up to this point, and that I can pay off quickly using the rental income. Thanks! 

[Blake Novotney]

Hey Monica, 

I'm also here in Wilmington. I would recommend talking with-

1. State employees credit union (if you can get in)

2. Corning Credit Union (local and I love them!)

3. First Citizens had some really good home improvement loans where they just cut you a check and you're free to spend on the property as you see fit. It's been around a year since I've looked, here so something may have changed but it used to be great.

Good luck, and let me know if there's anything else I can help with here locally!