Do you do any development projects? 

Borrowing against your paid off house without an income puts way too much pressure on the success of whatever deal/project you decide to pursue. 

It’s a pretty big project but great opportunity.

The seller is out of state and even visited the project a few times to check on the progress which I think helped him feel good about the whole deal as well. technology made the whole process a lot easier in the interim.

Right now, I’m actively learning and planning to start my first projects this year.

As a family-run business we’re curious—what factors do lenders prioritize most when evaluating projects like ours?

And I was constantly more worried about my own project.

The particulars of a project, whether fix & flip (cash now), fix & hold (cash flow), rehab & reboot (cash out), is only one of many ways lenders decide whether to invest or not.

Plus, it would be a first renovation project, and other properties we may be able to close on are huge projects.

Make sure to prepare a professional proposal, highlight your STR track record, and be transparent with your financial projections.