My credit rating is poor - bk within last 10 years and never fully recovered.
I own a home that appraises for $125k. I owe $60k. I would like to put $15k into it for renovations. Banks won't look at me. I might sell it once renovated and move to an apartment. I'm tired of cutting grass (it's a double lot).
I've thought of working a deal with a contractor to do the renovations with a contractors lien, with payment plus interest due at time of sale, but don't know if a contractor would buy that or not.
Does it make sense to do the renovations before selling and try to get top dollar out of it, or to sell for say $90k "as is" and move on.
TIA for any suggestions.
