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Updated over 5 years ago,

User Stats

55
Posts
94
Votes
Ryan Rush
  • Rental Property Investor
  • Boone, IA
94
Votes |
55
Posts

Loan needed to revamp a commercial building / apartments

Ryan Rush
  • Rental Property Investor
  • Boone, IA
Posted

This is likely a stupid question, but I’ve never done it before. I have a commercial building in a downtown area. I want to remodel it and add two apartments in usable space inside, as well as remodel an apartment I already have to use as an Air bnb (since another apartment in this building is doing so well as one).

I have a very good credit score, as well as considerable equity in the building as well as another house I own free and clear. The building is on a strange loan though- it was bought as a package deal with another house, so I’m not sure how that’s figured out.

Where do I start?

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