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Private Lending & Conventional Mortgage Advice

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Thomas Heger
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Advice / Help Needed - Financing a Mixed Use in CT

Thomas Heger
Posted Aug 30 2022, 17:20

I currently have a multi-use property under contract but am having a challenging time finding a lender interested in mixed-use.  The property currently has a retail tenant on a long-term lease and fairly straightforward rehab to add 3 One Bed Apartments.  The property contains additional space for an additional 3 One Beds.  

The current owner is financing the 25% downpayment.  We're looking for the 75% + 50-75k rehab budget, interest only, short-term loan.  We're looking to refi once the first three units are fully occupied.  

Thanks in advance. 

-Tom

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