Updated about 7 years ago on . Most recent reply
Best Financing for Remodel/Construction
I own a duplex in Tampa, purchased around 15 years ago.The structure is about 100 years old. I currently owe about $170k and the current value is about $350k. I’m looking to do a complete remodel and addition. The bids I have are roughly $200k which would bring the value up to about $750k. Any advice on the best loan for this. Are there construction loans available? I’ve talked to a couple hard money lenders, but they won’t take a second position. My plan is to refi after the work is completed.