Asked by Phil, Chicago, IL • Fri Jun 20, 2008
Any advice will be greatly appreciated. I am purchasing a foreclosed SFH in need of a complete gut rehab, and need advice on obtaining rehab financing. In particular, is this better done in conjunction with the purchase financing or separate? And are there certain banks that specialize and/or are more open to this type of financing than others? This could be relatively short-term financing at a somewhat higher rate (anticipating refinancing after project complete). Amount will be in neighborhood of $200K.
Real Estate in Chicago
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