Money for Rehab - Posted by Ernesto

Posted by Ed Garcia on January 16, 2001 at 09:15:31:


Congratulations on your first sale??.

My first suggestion is to see if you can find a contractor who will take your $5,000 and carry you for the balance until you sell the house. You can tell the contractor that he can have a second mortgage on the property for the balance until it sells, hopefully in the next few months.

Ernesto, you haven’t shared any information about you, your credit, or your circumstance, so it’s difficult to financially advise you. Offering a family member who has a little cash lying around, or has room on a credit card could be a next choice. I would make them the same offer.

Ed Garcia

Money for Rehab - Posted by Ernesto

Posted by Ernesto on January 16, 2001 at 07:42:42:

Hi everybody, this is my second post in CREOnline, and things has changed since my first post.
I already sold my first property, and have a second ready to iniciate the repairs.
This is a 3/1 1/2 + 1/1, purchase price 47K, repairs needed 12K, market value 85K - 90K. I only have 5K for the repairs, I need the money to complete the repairs and sell it.
Any ideas?
Thanking in advance,