My sister and I are looking to make a purchase in the DC area. We both are short on liquid but have very high credit scores. We are trying to find ways to finance our rehab with little to no money down. I am at a loss as to how we can finance this place, rehab it, and rent it without spending our hard earned $$$. Can someone chime in on this for me please?
Rehabbing is capital intensive. It might not be the best strategy to try to implement for someone with low liquidity.
If you're short on liquid do you have money tied up in other assets you can pull out?
There's HML's who do two tiered lending - initially to purchase and rehab for 6-12 month terms (10-12% interest) and then refi it internally into a long term product (6-8% interest). Any sort of lending will make you put some money down of at least 15% however so you have skin in the game.