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Updated over 3 years ago on . Most recent reply

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Rene Cedillo
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New investor with paid off duplex

Rene Cedillo
Posted

I currently own a paid off duplex with a 2/1 per unit but needs work (flooring, cabinets, appliances, paint, A/C, and unfinished bathroom) before putting it for rent. What loan would you use to fix it or what would be your first move as a new investor? I appreciate any advice. 

In case you are wondering, I acquired the property through a family member. 

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Conner Olsen
  • Real Estate Agent
  • Austin, TX
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Conner Olsen
  • Real Estate Agent
  • Austin, TX
Replied

@Rene Cedillo If the cash flow is good and you can pay back the renovations in under 18 months then I'd get a HELOC. Otherwise I'd get a small refinance loan.

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