Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago on . Most recent reply

User Stats

100
Posts
34
Votes
William F.
  • Flipper/Rehabber
  • Tacoma, WA
34
Votes |
100
Posts

I need to keep MAX cash on hand - financing for rehab?

William F.
  • Flipper/Rehabber
  • Tacoma, WA
Posted
Hey guys - good problems to have and I need your help. I am in the middle of doing a couple deals in Phoenix, 1 SFR and one duplex. Each is around $200k purchase price, and (believe it or not) I can finance them. Both involve some rehab ($135k total rehab costs). I NEED to have as much capital on hand as possible to jump on other deals that might come up, so I'd like to finance the rehab with the property. What kind of options do you see for me? Here's what I was thinking: 1. 203k - low capital total limit, so not very useful for me. 2. Conventional rehab loan - nice but very inflexible when contractor specs need to change (I understand that even the tile's serial # goes into the spec). 3. VA loan - doesn't provide for rehab, as far as I know, but very low money down. Only good for one deal since it has to be primary residence. 4. FHA or conventional loan - different flavors the number 3 option. So what would you do if you were me? How can I keep my capital in my own hands as much as possible

Loading replies...