Trying to figure out my financing options
Hey everyone! My name is Blake and I am currently in the process of trying to land my first deal.
I’m trying to figure out a couple ways to finance my first brrrr. I have a way to raise the down payment but the rehab is the problem. My real estate agent has told me about the fha 203k loan, but I was wondering if I had any other options? I am going to try to put in as much sweat equity as I can but the rehab is looking to be around 50-60,000. The numbers are working even after rehab and I am desperate to land this as my first deal. I want to be as creative as I can and I have the people to help out with the rehab.
From my understanding, the fha 203k loan is looking to be a big mess and monotonous. Are there any private lenders willing to work with a newbie?