If I understand your question correctly, you are asking if you can get a mortgage AFTER you complete the $20k rehab? If that is your question then the answer should be yes. You wouldn’t currently have bank financing on the property so there’s no seasoning period. You could get a new mortgage (for 70-80% LTV after anew appraisal)and hopefully pull out $80k to pay your seller + most / all of the $20k you spent on repairs. If you bought really well and it appraised very well, you might even pull out some cash above and beyond what you spent. This is one version of the BRRR strategy
@Mark A. You are semi correct I'm Looking for something called a Home Style Loan which would be able to actually pay for the loan for the house and also for the repairs . I've reached out to some lenders to figure this out . Now I don't know if you know anything about this but you think with a Home Style Loan I could buy it fix it up and flip it basically?
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