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Updated about 8 years ago on . Most recent reply

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8
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1
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Kevin Kennerly
  • Investor
  • Glenolden, PA
1
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8
Posts

203k 6 month timeline

Kevin Kennerly
  • Investor
  • Glenolden, PA
Posted
I recently purchased a 203k property as a longer term live and flip. My 6 month deadline to have the house livable is fast approaching. I have yet to take a draw from the bank and have been funding the other renovations out of pocket. The house needed much more work the the bank required. It's a 90% gut. All of my big projects are mostly complete. But I still think it's going to be tough to make the deadline. Has anyone run into a similar situation? Or know what the banks reaction will be to the overrun? Thanks in advance!

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