Updated almost 5 years ago on . Most recent reply
Financing Rehabs with a 203k loan verse a line of credit
I am a new investor looking to buy my first property in the near future and planning to use the BRRRR method. Currently I'm reading Brandon's book, The Book on Investing in Real Estate with No (and Low) Money Down and was introduced to the concept of a 203k loan.
My question is: What are the benefits of taking out a line of credit vs a 203k loan in order to fund the rehab of a distressed property and vice versa?
Most Popular Reply
It sounds like the 203K may be the better option. I would check with lenders and see how your situation looks to them. If you found out what kind of LOC you qualify for that may help you make a decision.