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Updated over 1 year ago on . Most recent reply

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Reuben Pena
  • Chicago, IL
3
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What loan options do I have to rehab building violations?

Reuben Pena
  • Chicago, IL
Posted

Hello BP family,

I recently purchased a home with an FHA 203K loan. Rehab portion of the loan was to repair some interior work worth up to $65k. unfortunately 1 month after closing, I had one of the tenants that was getting evicted complain to the city and I ended up getting a bunch of building violations.

These violations are to fix porch, roof, and masonry work. bids that have received are totaling up to $150k.

I'm looking to see what options are recommended to finance that additional rehab work needed to clear violations. 

Most Popular Reply

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1,851
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1,496
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Paul De Luca
  • Real Estate Agent
  • Chicago, IL
1,496
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1,851
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Paul De Luca
  • Real Estate Agent
  • Chicago, IL
Replied

@Jonathan Klemm

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Magnus Properties LLC
4.9 stars
26 Reviews

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