92: Rookie Reply: How to Fund Rehabs and Renovations

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 3 July 2021

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week’s question comes from Shantay on the Real Estate Rookie Facebook Group. Shantay is asking: We are about to close on a duplex. It is going to need a $6k-$10k upgrade. What are some options for funding the rehab cost? Different investors have different preferred methods of funding rehabs of this size/price point. Both Ashley and Tony have renovated numerous properties and used the below methods to raise the funds they needed without dipping into their own pockets! Here are some suggestions: Find a 0% interest credit card so you can buy material for the rehab Partner up for equity with another investor so you can split the costs Raise private capital from family and friends by delivering a solid investment presentation Take out loans against your stock portfolio, 401(k), or other assets And more in the episode... If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE). Check the full show notes here: https://www.biggerpockets.com/rookie92 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is real estate rookie episode 92.
0:07.9	I am Ashley Care and I'm here with my co-host Tony Robinson and Tony.
0:12.4	I tried really hard to refrain from saying niner and I'm going to do a really great job of not
0:18.4	saying niner for the whole 90s episode. I wouldn't expect anything else actually.
0:22.2	I was actually kind of looking forward to hearing that Tommy Boy reference every time we recorded
0:26.5	these episodes. So what are we going to be talking about today on the real estate rookie
0:32.7	reply episode? You guys know the drill before we get to the episode. Let's hear a word from our
0:39.9	show sponsor. Are current interest rates making you depressed about cash flow? What if it didn't have
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0:59.7	is over $900 per month. They also have options where you can put as low as 5% down on multiple
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	...

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