I am new to Bigger Pockets and Real Estate Investing. Looking for best options to finance a 3-unit property that is currently vacant and a complete rehab. What is the best vehicle or loan type? I am not planning to live there. Any feedback is appreciated.
More info would be needed but there are fix and flip programs for 1-4 unit properties that can cover upto 90% of total costs not to exceed 75% of the ARV
More info would be needed but there are fix and flip programs for 1-4 unit properties that can cover upto 90% of total costs not to exceed 75% of the ARV
I am new to Bigger Pockets and Real Estate Investing. Looking for best options to finance a 3-unit property that is currently vacant and a complete rehab. What is the best vehicle or loan type? I am not planning to live there. Any feedback is appreciated.
Thanks!
Depends on what you want to do long term. Where is the property and what are the numbers?
@Robert Close what you are describing should have several different options but as posts above mentioned there are loan types that allow to wrap in renovation costs. Depending on your exit strategy (whether you are flipping or "buying and holding") will influence what your next step is and maybe even what loan type is right for you. Can you comment if you are keeping the property or flipping it?