4plex for $50k - total monthly rents $2200 - whose lending?

[Nalo Coban]

In the process of purchasing a 4-plex at $50k. Total rehab costs are estimated $30-40k. Some units need more work than the others. The 4plex has 2br,1bth. The units would rent for $550-600/mo/unit. Have about $30k skin in the game. What is the best way to finance/work this deal? So far working with HML to get the deal done, but I would like to refinance asap to a lower interest rate. Also maybe do a cash-out refi so I can move on to the next project. Portfolio lender maxes out at 60% loan to cost on $80-90K.

[Jon Holdman]

@Nalo Coban  some ideas:

Credit cards.  Cash advances if needed since many contractors won't take cards.

Store cards.  Home Depot/Lowes or whatever is in your area.  Appliance stores.

Personal loan.  Some banks and especially credit unions do still do these.

Loans from friends or family.

Sell something

Get a second job

401K loan

Do be careful with any credit, though, if your plan is still to refi into a permanent loan.  Getting new accounts or maxing out existing accounts will hurt your score and might affect your ability to refi.