Mrdomore, Home Owner in Arlington, TX

how do i get an investor to help in remodeling my rent house very close to cowboy stadium, needs more than i can afford all at once. please help

Asked by Mrdomore, Arlington, TX Sun Jan 23, 2011

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Depends on what it is worth. You can do a cash out refinance and use that money for renovation. The maximum cash out allowed is up to 80% of the property value. So if the home is worth 100,000.00 and you currently owe 70,000 then the 10,000 difference is available to cover renovations and loan cots.
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0 votes Thank Flag Link Mon Jan 31, 2011
I have never heard of this.
You might check with your bank to see if you can get a a home equity loan.
If the home is paid off you can also get a reverse mortgage.

Are you thinking of selling or staying in the home?
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0 votes Thank Flag Link Mon Jan 24, 2011
Bruce Lynn, Real Estate Pro in Coppell, TX
Most likely never happen WHY would an investor to assist you on remodeling any home? If you purchase any property commercial or residential you are responsible for the updates and etc.

I am a real estate investor ANYTIME I need to update any property owned I budgeted for those purchases.

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
0 votes Thank Flag Link Mon Jan 24, 2011
If you haven't already, speak to a local lender to discuss your plans and options, possibly leveraging some of the equity in your rental.
0 votes Thank Flag Link Mon Jan 24, 2011
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