All Forum Posts by: Jodi Funke

My partner and I own a 79 unit complex in Southeastern Indiana. We bought it last February for $1.8M and have done approximately $1.5M in renovations. We are in the final phase and need another $200k to finish the project. The other members that are in are getting an 8-10% return paid monthly. We should be complete in about 30 days and plan to refinance the other members out by January 1st. We have a first on the property for $1.6 so there is plenty of equity in the deal, but can't go through a bank because: 1) It would take too long and 2) We are in a lawsuit with the prior owner so we can't pay him off yet. (he provided owner financing).

Any suggestions?