Tricky Lending situation - help please

[Louise L.]

Hey There

We've ended up in a tricky spot and I'm trying to figure a way out of it.

Bought a property to STR in georgia. 6 months later it burnt down.

We got the insurance money and decided to build a second place in the lot next door. Insurance covered one, we covered the second one with our cash. Builder ends up screwing us over and we are out $250k which we are in the process of trying to get back.

In the meantime, I'm trying to get a private or hard money loan to finish the builds

Current mortgage 273,000

Rehab 1 - 150,000

Rehab 2 - 150,000

Current value for both places approx $350,000

ARV $1,000,000 for both

Plan is to refinance and hold as STR

I feel that these numbers are reasonable - am I missing something?