Updated about 5 years ago on . Most recent reply
Creative financing for Rehab
What's a creative, effective way to work the following scenario? Multi-family home is under contract and after inspections is coming back with several big-ticket items that will need to be addressed in the first five years. Seller knows there are issues that he will have to fix, but we'd rather rely on trusted people we have relationships with to insure the work is done well instead of asking him to fix things (bc there are signs of very bad, recent work on the home). One suggestion was to take out a HELOC for repair, but is there a way to go back to seller and ask him to give us an allowance for these things? Any help is appreciated, this is our first deal.