Funding For Newbie
I have some good news and some questions. After seeking funding for several months to begin a rehabbing business I was able to aquire 50,000 from a private investor who is willing to give me this money for the purpose of completing several rehab projects. this investor only requires interest only payments and is willing to allow me to have the money for an extended period of time.
I have been able to avoid the hassles of the bank and rehab lending agencies but now i am unsure of the best use of this money. I live in the baltimore city area and my partner is a contractor so we plan to buy rehab and sell and just keep doing this over and over.
Any i deas from anyone
Do you own any of the properties that you are planning to rehab? What degree of rehab are you getting into? Is it strickly cosmetic or will you be doing a deeper rehab? What is your turn around time? What is the cost of the repairs? can you do more than one home with the 50k? he question is, have you planned this out?