Fix up properties

[Brandon Morgan]

Hey all I am a new investor . I am now looking to buy my second property. My first property is a turnkey property in the Scranton area and is all rented out now. I am now debating if I should attempt a property that needs to be fixed up a little. However I'm not sure how that would work using a conventional loan. For example would I take out a full 200k loan for an old 100k property and use the rest of the loan to fix up the property? I'm just not 100% sure how that works or which type of loan/ financing to use. Also do you think it's better to invest in turnkey properties for this area or is finding a fixer upper a good idea as well? I'm open to any ideas, advice or experiences.