Refi Lender - 11 Office unit conversion to 12 apartment

[Jose Ponce]

I have already purchased the property and im in the final stages of city approval for the conversion. Need a lender that will cash out refi only for the original purchase price not ARV

[Alex Bekeza]

@Jose Ponce Ultimately, anyone who will offer solid long term financing on it will need it to be in it's converted, permanent, legally conforming state.  However, I'd imagine a private money lender who understands the exit strategy might be willing to lend short term money on this.  We've done 100% CLTC (combined loan to cost) like this with our own funds before when the deal was completely unbankable but we had a relationship with the client and understood that we could broker the perm debt easily once the property was ready for it.