Questions about financing a rehab
Hello,
It's 2021 and I am creating my goals for the year.
I was considering the FHA 203k loan to buy my first property (deplux) and rehab it for a long term rental. I don't think I'd be able to though because there seems to be a requirement of working the same job for 2 years, and I am graduating college in a few months. Also, MIPs...
What are other alternatives that would allow me to do this that include the financing of the rehab? Would a conventional bank loan with rehab cost included? Is using a hard money lender & then refinance an option that people do in this scenario?
Thanks
Most Popular Reply
@Fareed Simpson Hankins start reading up on creative financing here in the forums and also there are a few BP podcast episodes as well.