Updated almost 10 years ago on . Most recent reply
Options for Financing Rehab for flip in Austin Texas
Property Value: 375k
Rehab: 125k
ARV: 625k
My partner and I currently own an investment property outright in our LLC and I am looking for ways to finance the rehab. I have the cash to be able to cover the rehab but would like to finance it so that we can jump on another opportunity should one arise. That being said, I really dont like the idea of paying 3-4% origination on a 20% LTV. Are there any other (cheaper) options for me that wouldn't require me to leverage any of my personal assets?
Most Popular Reply
@Ryan Walker You could use the property as collateral and pull $125k out of the property as a cash out refi with someone who has cheaper points. At that LTV, you could roll the points into the loan.