I have a Investment property in Texas and is in need of Renovation and is vacant. This property needs a lot of work to be rent ready but is low on funds.
I have been researching ways to get funding such as Heloc, Hard-money , lendingclub etc but is unsure which is the best option for my situation. In this bad market.
Is there any there types of loan or ideas I did not mention with low interest?
Getting Heloc on a investment property in Texas seems difficult especially in this 2022 market , was anyone else able to do so?
Any other advice for a young up and coming investor?
You should pretty easily be able to get 140k out on a cash out refi. Send me a DM and I can refer you to a couple lenders I have worked with if you get the run around.
Typically, to get a loan that is advantageous you will need something like a property that you have equity in to loan against. For example, I have a heloc on my primary residence that allows me to take up to 90% of my homes value. Do you have a property to use as collateral or does this property you are talking about have equity you could use as collateral?
You should pretty easily be able to get 140k out on a cash out refi. Send me a DM and I can refer you to a couple lenders I have worked with if you get the run around.