I bought a commercial property retail space and I own it free and clear. I paid 18K for it however the comps are between 80k to 90k. Its also in a historical area so there may be some funds or tax credits available. The issue is that my credit is bad. I filed a chapter 7 a year ago because of divorce debt. I only have 67k in student loan debt that’s in forbearance now and only a $300 credit card bill. So my issue is that I need about 30k to do work on the property. So I wanted to do a line of credit or refinance it but because of my credit I am having issues. Does anyone have any advice suggestions?
Depending on your situation which is quite bad as of now, your plausible 2 option is to seek help from the organization that provides debt help and the other one is filing for bankruptcy but I do not think there are many chances for it.
Thanks for your reply.