Cashing out of a rehab that was purchased in cash
Hello,
I was wondering what would be the best option for getting my money out of a cash purchase. The property in mind is $65,000 and needs $15,000 in work. Once rehabbed the property would appraise for $125,000 and rent for $1300 a month ($600 profit per month after all costs with a mortgage of 70% of $125,000) If I paid for this property in cash what would be my best option for turning the property into a 30-year loan? I want to be able to get at minimum my $80,000 that has been invested out and would like to do so immediately after work is completed. Thanks.