Possibly the biggest consideration when taking on a rehab project is how to finance the deal. We’ve all considered hard money, FHA has their 203K loan program, and we’ve probably seen a late night commercial or two about financing. Perry Farella of Prime Lending talks us through a loan program which is a cross between a conventional loan and hard money, something that you don’t even need to refinance out of once the property is stabilized.
- How to qualify for a rehab loan
- How to determine ARV
- The draw process for construction
- When to refinance a loan
- Hot investment neighborhoods
As a property management company in Chicago, we at GC Realty & Development, LLC, are investors ourselves. Each employee of GCR&D are Chicago property managers and landlords themselves, and understand how to manage properties from the owner’s perspective. Get in touch with one of our experts to answer any questions and maximize your rental property profits.
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