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Updated about 10 years ago on . Most recent reply

User Stats

68
Posts
12
Votes
Shamus Quirk
  • Real Estate Agent
  • Newburyport, MA
12
Votes |
68
Posts

How should I finance?

Shamus Quirk
  • Real Estate Agent
  • Newburyport, MA
Posted

I found a duplex that I am interested in.  I have cash for a down payment but I don't think I have the credit to secure a traditional loan from a bank. 

The property would need some improvements but market rent is around 900-1000 a door.  Purchase price of 125k with 10-15k in improvements, maybe less, the majority of the work would be my own sweat equity but I'm factoring in my labor.    

Any ideas on how to finance the deal and rehab?  I would like to buy and hold this property.  

I always appreciate your input!

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