Private lending
I have an apartment building that I want to purchase its annually cash flow is $66,300. If we raise the rents to the average rents in the area it could possibly net annually $85,000. It needs somewhere in the neighborhood of $ 95K - $120K in renovations. How should I get the funds for renovations if I want to do owner financing? Do you think I should approach a private lender because there will be $100K in equity once the project is finished? It also have a duplex on the property that could be renovated and a building for a laundry mat that is not in use. Just trying to figure out the best way to approach this deal because of the upside.