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Completely Redone
How do I get a mortgage with extra money to renovate?
I am looking at a house right now, that was built in 1909. It was originally listed at $240,000, and in 2 weeks, the price dropped to 199,000. I can likely get it for about 160,000.
Is there ANY way to borrow the full amount the house is worth? The foundation is crumbling and the electrical has to be redone. There's a significant amount of work that needs to be done in order to restore this old house.
Now, before I'm crucified for taking such a gamble, let me explain my motivations. One block over, there is a house that is identical, but it's been completely redone. It's selling for $450,000.
I'm not trying to flip this house, but if I spend $160,000 buying this antique, and $80,000 restoring it, I'll have a home that is worth almost double what I paid for it.
Does anyone have ANY idea what my options are?
Technically theres no way to do it but like the saying goes "if theres a will theres a way" and there is a way to do that. Its frowned upon with the dept. of real estate. I'm a loan agent in California contact me if you are interested in looking further into that.
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BloodHound Gang "Mope" Completely Redone
{ 2 comments }
Barter Trade Swap 2006 yz 450 has GPR stabilizer fresh motor built by I’d moto in Santa clerita new FMF 4.1 with power bomb header,also has flex bars ca Enzo suspension completely redone 2 months ago this bike is my practice bike and is set up and very fast has not been abused always maintained by my private mechanic all fluids changed after every moto. I’m only selling due to getting new bikes if you have any question call me 5623184371 ask for Ray. The bike will be back at my home in Alhambra on Tuesday it’s in Santa clarita being torn down and completely lubed and ready to go. Will consider trade but be realistic I am also selling my race bike the only difference between the two bikes are the race bike has a works big bore kit with 4 races on it and has RG3 triple clamps but their both awesome bikes but I have to make room for the new bikes. What I will trade for is #1 I need a quad motor with reverse must be a 450 or bigger 2 will consider a nice off road buggy with trailer 3 I…
They're all in. I have 8 that need minor changes, 2 the need a lot of work, and 2 that need to be completely redone. I'm feeling good.
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