Loan options on rehab to rent
2 Replies
Seth Crowder
from Indianapolis, Indiana
posted over 3 years ago
Is it possible to purchase/rehab a proprty using hard money and then find renters to get a new loan on better terms against the equity on the property? Or would my only option be to sell the property after rehabbing?
Corby Goade
Investor from Boise, ID
replied over 3 years ago
Yes, that's exactly what we do. Read up on the BRRRR method, lots of info here on BP. If you buy right and rehab right, you can pull all of your money back out and start all over, leaving a trail of rentals and passive income in your wake.
Seth Crowder
from Indianapolis, Indiana
replied over 3 years ago
Thanks, Corby! I’ll search for those posts.