What is everyone using to fund rehabs?
3 Replies
Chris Shelton
Real Estate Professional from Fayetteville, North Carolina
posted almost 2 years ago
Going to be jumping into my kitchen and bathroom remodel here pretty soon and I just wanted to see what everyone is using as far as funding goes...credit cards, loans, etc.
Cheers BP!
Frank Wong
Real Estate Broker from SF Bay Area (East Bay)
replied almost 2 years ago
Amazon reward CC to get some points then I pay it off with cash.
Tanya F.
Rental Property Investor from Madison, WI
replied almost 2 years ago
Start by signing up for a bunch of new credit cards with 0% promotions (like 5 of them). Pay the minimum as long as 0% promo lasts - usually that's a year. We used those to fund most of our project at the start. Then get a HELOC to pay off the 0% credit cards as needed once the 0% promo period ends. Also use the HELOC to pay contractors who don't take credit cards.
Diana Muresan
Lender from Chicago, IL
replied almost 2 years ago
@Chris Shelton you can do a renovation refinance, 203k FHA if is owner occupied and FannieMae HomeStyle for investment properties
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