NEED LOAN FOR A UNIQUE PROPERTY (UNDER CONTRACT)

[Tristan Beavers]

     Myself and a partner have a property under contract in Fort Pierce, FL. It's a dormitory style property, with 17 bedrooms, and 11 bathrooms, as well as shared space for cooking and dining. The property has been difficult to obtain financing for, I'm wondering if anybody here is familiar with a lender for this type of asset. The address is 1305 N 19th St, Fort Pierce, FL 34950. The current owner runs a rent by the room model, bringing in about 10,200 per month in revenue at full occupancy. The previous appraisal done in 2020 valued the building at 800,000, we're hoping an updated appraisal will place this closer to 850,000 in valuation since we're seeking a loan as close to 590,000 as we can get. My partner who would be sponsoring the loan has good credit, and plenty of experience investing. If anybody knows any lenders willing to have a look at this with me, please reach out to me! I'd greatly appreciate it!