Rehab Financing, W/ No Cash Flow
im looking into a 4 property package for 180,000
but i have no job/cash flow from any source too pay the mortgage while rehabbing the homes...
iv been preapproved for financing a multi-family home up to 400,000 but im not sure of the available products for rehabbing properties.
are their specific loan packages that include money for purchase AND rehab work?
iff so, is there a way to defer payment until the homes are sold at a profit after being rehabbed?
~Andrew
up
If it's a FSBO you might negotiate with the seller to hold the financing for a few months until you can refinance after rehab. Just a thought
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so would i ask the seller to pass me the title?
that would call for what specific kind of contract?
thanks...
~Andrew
up up uppp
Contract for deed or lease option, I think both are state specific.
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