Rehabbing houses

I was curious as the best way to get the funding to rehab houses? My father tells me there are ways to do it with no money down, but I am skeptical on that. What I was thinking was to get a LTV from mortgage broker and fund the house that way and hopefully that would cover some of repair cost as well. Any input is appreciated.


A bank won’t typically lend on a house that needs rehabbed…there are a few…I would suggest a HML.

Hi Ryan. Here is a link to a list of Hard Money Lenders;

Good Luck!


I currently have a rehab project going in Philly Pa which I did with no $ down. I got the funding through my LLC. If you’d lke, call my lender and he’ll be able to guide you in the right direction. His name is Ron Bradly and he can be reached at (610) 738-7065 X 13. Tell him Greg sent you.

He is not a hard money lender, and their fees are very low comparitivly speaking.

Good luck!

Skip the HML. I went thru a local bank right here in town. Purchase price and rehab costs all rolled into one loan on a 9 month interest only note. Start asking the smaller banks in your area if they do rehab/construction loans.


I used New Century Bank for my construction loan. They are loacated in the Philly,PA area.

Greg :slight_smile:


Can you share the particulars about your deal. How much did you finance, price of the house, payment per month. How are you covering the insurance/taxes—built into the loan?



Yeah no sweat. Purchase price was 40K for bank owned property. I put down 1K. So I had a loan for 39K and rehab estimated at 21K. The entire loan is interest only at 8.25% interest rate for 9 months. As I use my draws at the title company to pull money to pay for repairs my monthly payment will increase. So my payment amounts will vary from month to month. I just got my first bill about 2 weeks ago for 43.2 and I think the payment was about 295.00. Don’t anyone out there correct me as I’m just thinking off the top of my head :slight_smile: I paid my insurance in full before closing which cost me 430.00. The taxes I will get billed for at the end of the “year” Hopefully I don’t hold it for that long but if I sell it, and have owned the property for 6 months then I am responsible to pay those taxes owed to the city before I can close. My guess is that the title company that I use will take those funds out of escrow from my procedings to pay for that. Does this help any?


Very helpful. The numbers you’ve got are very much in line with the heloc I have set up. I just wanted to make sure I was on the right page and my numbers weren’t out of line. Thanks again.


Hello Greg,

Listen can you refer any good contractors (rehab) we are looking into rehab on a particular property located on Alleghanny Ave. and trying to put togethe a good team of rehab contractors that can stay close to budget and timeframe. (HARD TO FIND)

Thanks for you info.

Janine W.

Hi Janine,

Try Desmond Karpel of DKarpel Construction. We’ve used him in the past and he’s done great work and has been very reliable. His # is 215-499-6218.

Are you and you husband looking to unload some of your properties?


Hello Greg,

Yes we are actually. We need to generate some cash to fund some other projects… Give me your email address again so I can send you his cell#. I was trying to pull it up on my end (from what you sent earlier) and now for some reason I can’t get it up again. He would be interested in speaking to you. He can give you all the info on what we have available to sell.