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Financing 2nd home/ renovation to sell

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  • Financing 2nd home/ renovation to sell

    Really sorry if this question is really trivial/naive but I don't know where to start, I have looked online and cant get a real answer.
    My current property is worth 110k, i have a mortgage of 84k. I am interested in buying a house on my street to develop and sell on, it is for sale for 90k, so there is room for negotiation. The house is identical to my current house, therefore I know all the work it will need to get it to a liveable state. How would I go about financing it? I would aim to buy and sell within a year, would do all the works myself. I do not currently have any savings, although there is a possibility i could loan money from family to act as a 'deposit'.. What would I do 'mortgage wise' for this property, as obviously wouldn't meed a long term mortgage like for my original home. Any advice would be gratefully welcomed
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