Updated about 5 years ago on . Most recent reply
Renovation project/rehab loan
Okay, not too sure where to start but I came to find out my brother is backing out from a house we were supposed to buy together using a remodeling loan and he was going to put up the down payment while I take care of the project and handle everything else concerning the house, now that my way of funding this house is gone I don’t know where to go or who to ask to partner up with me or where to ask for a private loan for the amount of the down payment. These are the numbers for the house
Houston greater heights
Purchase price 300k
Rehab cost 175-185
ARV 580-615k
I’ll be in the deal for about 480,000
The house is in a PRIME location and I do not want to lose this property I’m even thinking about selling one of my rentals but that would be the last resort. Is there any advice anyone can give on how to find the funding or any other strategy to close on this house?