Refinancing a weekly rental

[Robert Lindsley]

Good morning,

I'm getting ready to kick off the process of refinancing one of my buildings - it's a weekly rental, although most tenants stay for 6-8 months.

We've been stabilizing the building since we purchased it a year ago and now we're in the process of getting everybody onto leases.  However, if possible I'd rather not wait to get leases in place to refi.

The building is 24-units with a current rentroll of $17.7k monthly. Ideally I'd like to obtain a cash-out refi @ 80% LTV for $1.6mm, with a building value of $2mm.

Does anybody know a good place to finance a building with no leases?

Thanks!
Robert.