All Forum Posts by: Chris Arce

200K and probably 6-12 months  

 Own it for cash. 

 need at least 200K

 Thanks, Devin. I think you're right. HMLs might be the only way. I also thought about opening a credit card with 0% interest for 12-18 months... but could be risky. 

Hello everyone,

I just closed on my third property , and its a fourplex in St. Louis! Super PUMPED! (first fourplex)

I am currently in the process of figuring out the most effective way to fund the rehab.

With interest rates so high, I'm terrified at what hard money lenders will quote me at... but maybe its the only way.

Any other creative strategies out there other than hard money lenders? I can raise the capital but dont want to give up the equity, hoping i can leverage all of communities expertise and find some awesome alternatives!

Thanks again,

Cris

Hello everyone,

I just closed on my third property , and its a fourplex in St. Louis! Super PUMPED! (first fourplex)

I am currently in the process of figuring out the most effective way to fund the rehab.

With interest rates so high, I'm terrified at what hard money lenders will quote me at... but maybe its the only way.

Any other creative strategies out there other than hard money lenders? I can raise the capital but dont want to give up the equity, hoping i can leverage all of communities expertise and find some awesome alternatives!

Thanks again,

Cris

@Eric Teran

Great advice. I appreciate it Eric!

@Eric Teran my GC says we can get away with pretty much everything since it’s minor work and they aren’t doing inspections at the moment.

My thing is, I don’t want it to come back and bite me in the you know what when I try to go sell the house.

I do know the county is super lenient with regulations as well. Would that be crossing some ethical line? I’m using licensed GCs so it’s not like I’m doing a sub standard job.

@Eric Teran

Thanks, Eric! I called them several times but it seems like the office is closed. I’ll send them an email first thing tomorrow morning. I should be getting the title to the house tomorrow too, so I hope I hear back from them soon.

There will be no structural changes to the building as stated on the post. 

Thanks Benjamin.