Hey there!
I’m in a bit of a unique situation where I was gifted a very cheap fixer-upper and was wondering if there was any options to finance repairs? It’s a ~100 year old concrete house that needs major work (foundation is fine) I want to chip away at a little at a time and was wondering if I had any options to finance some repairs. I don’t really have any previous history on the house beyond that. Thanks!
Any way to fund a gifted fixer-upper?
byu/Business_Cell8487 inpersonalfinance
Posted by Business_Cell8487
3 Comments
Do you have a job and good credit? A comprehensive budget so you don’t get in over your head?
If you’ve been gifted the house and are now on the deed you can take out a HELOC secured by the home. There really isn’t another way to access a bunch of capital if you have no other assets.
Have you considered a home equity line of credit?