Unicorn property in Lakewood Colorado

[Nina Telthorst]

Hi BiggerPockets people!

We have found a property we are interested in that has a single family home and a duplex on one property. We are looking at how to get funding for this property, but we’re told that because it’s so unique, even if we get a hard money loan it may not be possible to refinance into a conventional mortgage because it’s too unique and there’s no way to value the property because there just aren’t any comps. Has anyone run into this problem? How can they accurately appraise the property? We don’t want to have long term private loans and be paying a much higher interest rate. Any ideas?

[Kayla Givens]

Hey, @Nina Telthorst! Sounds like a really great opportunity! How many lenders have you talked to? I have someone in mind that is very investor-friendly and might be able to provide a little bit more insight than I could. Happy to connect you!!