Construction Loan Refinance with 20% LTV

[Jackson Boyer]

I am on schedule to finish a new construction project in Big Sky, Montana (considered rural but like Jackson, WY and Aspen, CO has great comps). After completing, the home will be used full time as a short term rental. The LTV is only 20%, also have about 50% of the loan value in cash and cash equivalents that I wouldn't like to tie up in the properly.

Using services like AirDNA, Vacasa, etc the property is projected to produce 300k-400k a year.

I have been the general contractor full time on this project for the past two years and don’t have w2 income to support a traditional loan. After completion I have an offer with a development firm with a good salary (150k).

This is my first real estate deal and I’m just looking for some advice or guidance. What to do in this scenario / introductions etc.

Deal Summary:

Rural High End Home

Appraised value 10m

Loan amount 2m

Completion date March

Happy to provide more details and learn more.