Financing for Small Hotel Project

[Ian Slater]

Hey BP Community, 

I'm looking at a project in upstate New York that will end up being a small (12 villa) hotel project with a main house with bar/restaurant and a pool. The property needs a full rehabilitation and every piece needs a gut renovation. I am up to now only a multifamily investor and was wondering if you had any suggestions as to how to finance such a project? Do these properties typically look to private investment? Commercial loans? Commercial loans? I'm a bit green in this area but it's a great deal and has opportunity to cash flow very well if done properly; I just need to figure out the financing aspect.