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Updated over 7 years ago on . Most recent reply

User Stats

11
Posts
1
Votes
Ben Morris
  • Rental Property Investor
  • Pittsburgh, PA
1
Votes |
11
Posts

How to pay for repairs? My money, L.O.C., or refinance

Ben Morris
  • Rental Property Investor
  • Pittsburgh, PA
Posted

Buying a house ($21,222.00) that needs repairs, should I use my money to buy the house and then use an LOC (Line of credit) to pay for the repairs? Or vise-versa; my money for the repairs and LOC to purchase the house. A third option to pay for the repairs would be to refinance after the house is purchased. BTW the LOC is at 6.5%. Please help, this is my first investment property.

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