Rookie Reply: How to Fund Rehabs and Renovations
This week’s question comes from Shantay on the Real Estate Rookie Facebook Group. Shantay is asking: We are about to close on a duplex. It is going to need a $6k-$10k upgrade. What are some options for funding the rehab cost?
Different investors have different preferred methods of funding rehabs of this size/price point. Both Ashley and Tony have renovated numerous properties and used the below methods to raise the funds they needed without dipping into their own pockets!
Here are some suggestions:
Find a 0% interest credit card so you can buy material for the rehab
Partner up for equity with another investor so you can split the costs
Raise private capital from family and friends by delivering a solid investment presentation
Take out loans against your stock portfolio, 401(k), or other assets
And more in the episode...
If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).
Check the full show notes here: https://www.biggerpockets.com/rookie92