We bought a house that's too small so we could afford our dream neighborhood. A $300,000 third-party loan will help us renovate.

Derek and Kate Feinberg bought a small home in a neighborhood they loved and plan to renovate using a third-party loan. Courtesy of Derek and Kate Feinberg Derek and Kate Feinberg fell in love with Wayne, Pa., but couldn't afford a big enough home there. They bought a smaller home in the location they wanted, and plan to renovate it instead. They used a platform that allows them to borrow money based on the post-renovation value of their home. This as-told-to essay is based on a conversatio...