Loan for a multi unit fixer upper to brrr

[Kevin Means]

So I’m currently looking for a multi unit to brrr. I’m having trouble finding a good “fixer upper” loan for investment properties though. I don’t plan on living there as I have a family and the area I’m looking at is too far away from work as well. Any help is appreciated!

[Chris Svendsen]

Originally posted by @Kevin Means:

@Chris Svendsen I’m near Philly so I’m looking to invest there or in New Jersey somewhere. Specifically multi unit and that is the exact same thing I’m thinking of doing if I can’t find a loan to fix up for investment properties. I have a decent amount of equity in my house that I could use in a heloc

I would go for a HELOC now on primary so financing is ready to go when something turns up. Being primary residence you can get better rates and larger amounts. Thinking of doing my primary for that exact reason. Right now things are good and banks willing to extend credit, better lock in before to late. I think change is coming in next year or two so better to prepare now. Good luck with it. Sure something will turn up when you least expect it.