Adding Value from Renovations

You want to buy a house. The house needs renovations but you barely have enough cash for the down payment, let alone money needed for upgrades.

Here is what you can do:

If your credit is strong, we can look at adding money for renovations on to your mortgage. Generally, the renovation costs can't exceed 10% of the original purchase price but I have gotten exceptions done previously without too much issue.

We then arrange a short-term line of credit or personal loan needed to fund the renovations in full immediately after closing. Once complete, we apply to have those funds returned to you in full and added on to your mortgage at the same rate.

If structured properly, the property will then be renovated, the debts you incurred will be paid back in full and the value of your real estate will have increased accordingly.

Sound sexy? That's because it is. Hit me up if you have any questions.