How can I borrow money to fix up a rental property that is paid for through my home equity loan?
Tags:home equity loan, money, rental property,
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paid from a home equity loan upon my stream residence?
I already borrowed a income for a let skill from my first home.
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You are going to have to make the workmen into "partners". When the work is done, you will sell the house and pay them 110% of their normal pay. Otherwise, no one is loaning for fixup money..
If you have enough equity in your primary residence to take out a loan (probably a home equity line of credit, or HELOC), you can use that cash for whatever you want. Including fixing up a rental property.
And, remember that those repairs are tax deductible. And, so is the interest on the HELOC.