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Updated about 4 years ago on . Most recent reply
Advise on type of financing
First time poster and new to BiggerPockets. My question deals with financing repairs on an older home.
My father inherited his mother’s home who passed. It is not a very good shape some my even call dilapidated. It’s is big close to 4-5k ft with 5 bedrooms with potential to split into a duplex. I guesstimate it will need +/- 75k to get where it needs to be. I would also guess it is worth 10k land and all at this time. I plan to get a few contractors to walk through to give me a better estimate of expenses.
What kind of loan or financing would be the best to pursue? Goals would be to spend minimal to no money on the front end and carry debt for all repairs. Is that possible?
Thanks for any suggestions.