First time investing. I need help with finance options.
Hello,
It's my first time investing and I'm interested in rehabbing a property in Baltimore. It's listed online and I'm trying to figure out all of my financing options. The house is a fixer upper and I was thinking about trying to get it under contract and then assign it, but I don't think the price is low enough to where other investors would see it as a deal. I was thinking of getting a mortage loan to purchase it and then rehab it. Would that be wise to do? What other options do I have?
Most Popular Reply
Sam - I would use a 203k loan for this property, or any property like it. This was the way I did my first "flip" and essentially did a BRRRR. That property now cash flows $2000/mo and I built $130K of equity into it after the rehab.
- Matthew Porcaro
The 203k Way