How Shoud I Finance a Home Addtion to add a Master Bed and Bath

[Christopher Rogers]

Hi Bigger Pockets!

I am in escrow on a 2 bed 1 bath in Covina, CA scheduled to close 4/10/17. It has blue prints for adding on a master bedroom, bathroom, and a laundry room. My strategy was to utilize a FHA 203K loan. However, I found that 203K does not allow for additions. So, here I am... What would all you savvy investors recommend? Hard money, private money/investors personal loans, etc? Are there construction loans out there that are worth looking into? After the addition and renovations are complete, I plan on refinancing to pay off any loan I utilize for construction. Any links to prior discussions and/or recommendations would be greatly appreciated.

Purchase Price - $385K

Reno - $85K 

After Repair Value - $525K+