Financing additional units
I'm about to close on a 4 unit. It's built on a large double lot in a prime location for 1 br/studio loft apartments. I plan to added another 5-6 units on the back 2/3 of the property (currently undeveloped).
I'm looking for suggestions on where to look for financing. Commercial loan? Private money? I figure I can always refinance to package the entire property under a single mortgage and pay off the presumably higher interest construction/private money loan with the equity.