I rescently have found myself in a jam. Myself and my partner have purchased 2 homes in the past year. These homes are in a specific market where it is hard o find renters in the middle of he year. So, my question is … Are there any loans which we can obtain to help us for the next three months till the season opens? Be it a construction loan, equity loean (but we havent had the homes loang), or some kind of line of credit?
thanks for the help
If you have equity in the property you can get a equity loan/line of crdit without having 12 month seasoning/ownership.
You know your situation better than I do, but is throwing more debt at this going to fix the issue? Being in a bind a couple months in should shoot up some red flags. If you are sure it temporary, then reluctant borrow with the idea that each dollar spent is spent to insure occupancy - then get some long term leases
Best of Luck
Sean