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Updated over 9 years ago on . Most recent reply

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Jared Carpenter
  • Specialist
  • USA
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First Home financing - Seattle

Jared Carpenter
  • Specialist
  • USA
Posted

Hello friends and BP community - 

Wanted to reach out for some advice.  For a first time flipper/rehabber with limited capital, would it be recommended to go after a 203k loan, a traditional mortgage, or hard money?

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Peter Tiberio
  • Investor
  • Bellevue, WA
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Peter Tiberio
  • Investor
  • Bellevue, WA
Replied

203k loan is great and I'd say probably  your best option. Traditional mortgage is fine if you can cover the costs of the renovation out of your own pocket. Hard money is going to much much more expensive than the other two options.

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