Equity partners are out of $ but I have a deal under contract

[Nicolas Beaujean]

Long story short I’ve had really great success the last couple years and all of my equity partners don’t have any money left

I have a great deal under contract that's a home run winter rental/Summer STR in Newport RI set To close 11/19 and am struggling to find an equity partner

I have 15 doors, a great track record just in a liquidity crunch

LOCs are out of play due to recent refi and banks rules

I have a term sheet for 100% financing @ 10/2 but am worried about being over leveraged to refi and wouldn’t want to exit as it doesn’t align with long term goals although it would build my capital stack by about 125k

Any and all suggestions would be great!

Purchase: 500k

Rehab: 40k

ARV: 700k++(condo conversion)

Y1 NetNet: 53k

Y2 NetNet: 85k

Y3+ NetNet: 100k+