Line Of Credit
I have three 4 Unit buildings in Missouri that I just purchased 3 months ago. I bought these buildings at a discount due to their poor conditions. I have already spent a small fortune in updating each unit but have now run low on cash. I have 3 apartments left and need to come up with the money to finish these last three units. Without these 3 units being rented, I may never turn a profit. What would be my best solution?. Trying to get a HELOC for all 3 buildings or are there lenders out there that will allow me to refi on such short seasoning?. Another option I am considering is finding the money to finish the rehabbing and then turning around and selling them. The may be about $40,000 profit per building if I take this route.
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