Advice for Getting Capital for Rennovation Projects?

Question

Hi all,

I've been thinking about jacking my job in and rennovating houses for a living. I've managed to rennovate my last three houses, and I'd quite like to do it for a living now.

I'm an architectural technician by trade and I'm more than handy at DIY (not registered though for gas or electrical maintenance sadly).

My question is about raising capital for the purchase of a property that needs rennovation. I appreciate that normal mortgages are not applicable, so can I obtain a self build mortgage or something like that as I would do if I were building myself? Can I get investors? Any advice would be greatfully received.

Steve

Answer 1

Frst thing to look into would be re-mortgaging your own property (before you jack your job in)!. A mortgage advisor should be able to give you free advice on the best mortgage(s) for your particular needs.

Could you also negotiate with your employer about taking, say a 3-month break, or working part-time, or can you freelance if your finances run out?

Answer 2

Check with your city, they have rehab loans at a very low interest rate