Updated about 5 years ago on . Most recent reply
Financing a rehab with 3 friends
3 friends and I are flipping a house in south central PA and we are exploring ways to finance the rehab. We are buying the house with cash for 60k but need to finance the rehab which we estimate to be around 80k. We estimate the ARV at 225k and the rehab to take 4 months. Suggestions for the best way to finance the rehab between 4 people?
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If you get a commercial loan you can get the rehab financed. I got a quote for a commercial loan yesterday for under 6 percent interest. How about a 203k loan? There is so much meat on that deal that you could use hard money.