Search results

Well if you fund it with cash from the LOC (which is what I suggested) then you don't need to provide quotes. I think you are thinking of a direct construction loan funding which would require a quote/contract which would only be done if you don't have enough equity in the beginning.

Yes but assuming you have enough equity in the initial property.

Borrowing power is usually not a problem for people like yourself it tends to be the equity. You have to set aside enough money to do the initial purchase plus leave extra equity for the renovations which you will most likely have to pay for with cash rather than having it funded directly by a...