Hello Everyone,
I have recently purchased a home using a hard money lender, but I do not quite have enough to complete the Rehab project. How do you guys go about getting money for Rehabbing from a different source? Any help or suggetions would be greatly appreciated, thanks
WOW! How much do you need? Most hard money lenders reimburse you after each phase
of the project is completed. If you do more work then you should have access to your $$ draw.
Are you saying that the money that they still have in escrow is not sufficient to complete the job?
Depending on your credit and how the numbers on the deal look I would try to obtain a credit line
or home equity loan to complete the project. Companies like HFC, Wells Fargo, and Washington
Mutual, should offer what you need and can generally give you the cash in less than 48 hrs.
Hope this helps!
Just got approved for personal loan w/ local HFC branch & they issued funds within a few hours.
Give them a shot if you need less than 20k unsecured.
hard equity is a easy loan to get