Updated over 5 years ago on . Most recent reply
Using A Personal Loan To Purchase a Property
I have about 90k in cash. I found a good deal with a 90k purchase price that needs $7k in rehab. I am considering a personal loan from a lender such as Lightstream for about 35k and funding the rest of my deal with my cash. Would there be any issues with this process? I plan on cash-out refinancing once the property is rehabbed and rented.
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A better option is use a zero percent credit card for the rehab. I did this many times throughout the years.