Strategic advice, which loan is best
Hello, I have a home that I took over with the quite claim deed Its needs about 50 K and renovations, home is worth about 307 the only catches that the owner still has 100 K mortgage on it. Once I figure out which strategy I'm gonna use to pay the mortgage of 100 K then I'll be free and clear in the house. I'm thinking about it being a rental I may have to house hack for a year and maybe rent a room or something. anyways which direction should I go in terms of a cash out refine a HELOC, etc.? Any advice would be amazing. Oh I'm The only one on the quite claim deed, The owner has been paying the mortgage for 6 months now.
Thanks