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/u/Responsible_Read5676
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Hi guys,
My dad is a non-US citizen (lives outside of the US) and bought a condo in Maryland - fully paid off. Over the last 15 years, extended family and friends have stayed in the condo and there haven't been any major renovations.
The place is currently unoccupied but needs extensive renovation - new kitchen cabinets, new flooring & carpeting, new electrical wiring, resealing / replacement of windows, bath tubs may need replacement, wall painting etc. I almost feel like it is a complete rehab
I do not have the cash to do this by myself (because my dad doesn't have it), other wise I would have. The plan is to rehab the place and put it up for rent so that it could cover the $700 monthly condo fee and recoup the rehab cost
What options are available? HELOC? Hard money lender?
Just to re-iterate, the owner (my dad) is not a US citizen or green card holder and does not live in the US
Thank you in advance for all your help and input
submitted by /u/Responsible_Read5676
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Options to finance renovation on a condo
Continue reading...
My dad is a non-US citizen (lives outside of the US) and bought a condo in Maryland - fully paid off. Over the last 15 years, extended family and friends have stayed in the condo and there haven't been any major renovations.
The place is currently unoccupied but needs extensive renovation - new kitchen cabinets, new flooring & carpeting, new electrical wiring, resealing / replacement of windows, bath tubs may need replacement, wall painting etc. I almost feel like it is a complete rehab
I do not have the cash to do this by myself (because my dad doesn't have it), other wise I would have. The plan is to rehab the place and put it up for rent so that it could cover the $700 monthly condo fee and recoup the rehab cost
What options are available? HELOC? Hard money lender?
Just to re-iterate, the owner (my dad) is not a US citizen or green card holder and does not live in the US
Thank you in advance for all your help and input
submitted by /u/Responsible_Read5676
[link] [comments]
Options to finance renovation on a condo
Continue reading...