Rental Property Investor · Tacoma, WA · Member since 2020 · 46 posts · 7 votes
Hello Everyone,
Question: How can you build equity at the purchase of an investment property? AND how can or do you use that equity to rehab that property to make it move in ready for tenants?
Investor · Pittsburgh, PA · Member since 2019 · 13 posts · 7 votes
6y
Hi Jonathan, buy and hold investors' bread and butter comes from being in popular/growing areas where they see appreciation of property/rent and demand of housing. The rent tenants pay above the cost of acquisition (cash flow) is what makes you wealthy. They pay for your rental.
For repairs, most lenders have rehab loans available for something you already own. If you are purchasing something, there are loan products that lend you the money for the purchase AND the renovations.
What are your goals in investing and what are you looking to accomplish? Good luck and let me know how it goes!