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Old Today, 07:25 PM
 
Location: Columbia, SC
9,134 posts, read 18,206,686 times
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I have done it many times for smaller amounts (less than or around 5k). Also will do it for the rentals we manage, but at a flat 10% rate. (I pay 5k for X repair, you repay may $5,500 in whatever installment payments we agree to.) Most I ever did was 15k, wouldn't do that again. Of course it's the only one that's been a problem. Getting that back over monthly installments still.

Yes, it's a loan so you have to pay it back.

Works great for homes than need work and owners that are cash strapped.
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Old Today, 08:13 PM
 
Location: North Idaho
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Veering a little off topic, but I have had contractors wait and be paid out of escrow several times when I was doing a 1031 and wanted the improvement to be part of the cost of the 1031.


So, some contractors will wait to be paid when the house sells. It doesn't hurt to ask.
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