Private Lending Advice
I currently own a house in Southeast Aurora, CO that I Airbnb full time. It is a corner unit with the ability to add an egress door for a potential entrance to a basement studio unit. I have gotten the go ahead from the City but will need to submit drawings and specs to my HOA. The basement is 576 sqft and should be large enough to renovate into a studio apartment.
I am looking for some advice on funding. I currently bring on average a revenue of $3400/mo from Airbnb and potential of $1,000 for the basement unit once finished. I also have around $87,000 of equity in the home but my debt to income ration is too high for me to get a HELOC for the renovations. So debt payoff is essential.
What type of an investor should I be looking for to help me pay for renovations and debt to allow for me to refinance? Or should I even refinance?