Financing a mini hotel

[Shane Bracewell]

Good evening, 

I am in the process of acquiring a lot on which to build a 5 unit hotel and am seeking advice regarding potential financing options. I estimate the acquisition cost of land, construction costs, and furnishing fees to be 450k, and would like to know what approach folks would recommend. Is it possible to get a conventional loan to fund this type of project? Or would I need a private or hard money loan, out of which I could refinance for better terms? 

Happy to provide further details upon request. 

Thanks, 

Shane c