Can you take equity from an investment property to use for rehabbing it?

Asked by Sm140355, 21207 Wed Sep 28, 2011

If i pay for a property with cash (free and clear) and the property already has equity in it, can I pull that money out to use toward the rehab? This would be an investment property that I would be looking to flip within 90 days or less.

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Candice Titus, Agent, Catonsville, MD
Wed Sep 28, 2011
Yes. You can get a Home Equity line of credit or get it financed as a 203k rehab loan. With 203k's you can refinance/finance your home to make improvements. I can get you intouch with some lenders. I have another client doing the same thing.

Candice Titus
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