Should I Borrow To Renovate? Home Improvement Loan or Home Equity Line of Credit?

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  • Опубліковано 4 лис 2024

КОМЕНТАРІ • 16

  • @King-2077
    @King-2077 3 роки тому +10

    Thanks for info, you’re direct to the point and easy to understand. As for renovation cost, unfortunately 10k is nothing 😔.

    • @mizu2in
      @mizu2in 7 місяців тому

      well, I'm using 10,000 to remove wall-wall carpet and replace with vinyl "wood" tiles - so these were perfect examples for me to learn the funding options! Very grateful !

  • @uhavemooface
    @uhavemooface 7 місяців тому +1

    You should do another one of these sense this video was 4 years ago. I think all of this has changed in 2024 but I am not sure. I live in California and I am not sure how much this information has changed.

  • @FinancialMadness
    @FinancialMadness 3 роки тому +6

    Really helpful video. I currently purchased my first property and undergoing some renovation. This gave me a lot to think about in terms how far/expensive my renovation should cost

  • @psynthpriest
    @psynthpriest Рік тому

    Thank you, this was very helpful.

  • @RedAgainstMachine
    @RedAgainstMachine 4 місяці тому

    Sounds like anything could be an option as long as people as consider 2 things: Not using too much loan/credit at one time. And being sure the monthly amount isn't too much.

  • @louish.9414
    @louish.9414 2 роки тому +4

    Home paid off now want to move in a ranch style one level and only Receive SSI as income.

    • @LoveVirgo
      @LoveVirgo 2 роки тому

      Do you have homeowners insurance? They should repair the roof.

  • @jaiderariza1292
    @jaiderariza1292 2 роки тому +3

    I think another way is to borrow from your 401K, right?

  • @brandonkerg8282
    @brandonkerg8282 3 роки тому +6

    I inherited my grandma's house and owe nothing on it but it's in pretty terrible shape so what would be the best option and I don't have anywhere near the savings necessary

    • @mymortgagebroker-stevencre1661
      @mymortgagebroker-stevencre1661  3 роки тому +8

      You could set up a mortgage or line of credit on that property and then use the money to renovate.

    • @Feliciamack1
      @Feliciamack1 2 роки тому

      @@mymortgagebroker-stevencre1661 Thank you for the information my brother pass away and left me four houses but like the lady with her grandmother house I also need to find financial help I loss my job because of
      Covid 19 but I'm trying my best to keep all of the houses I just need help getting them fix up I will try the information that you share thank you.

  • @MamaGnesL
    @MamaGnesL 3 роки тому +1

    Thank you for the tips

  • @robsweatherchannel
    @robsweatherchannel 2 роки тому

    If I have a a property that is very run down that paid in cash and ARV of this up to 85k+ Is it possible as a foreign investor to get HELOC or other funds to invest for rehab and use the property? Thansk Rob

  • @DJLeeStreet
    @DJLeeStreet 2 роки тому

    Decent !

  • @louish.9414
    @louish.9414 2 роки тому

    No mortgage Roof is failing.