I take it you are referring to a bridge loan for rehab.

The Freddie floater came along not long ago, and became the most popular, but now bridge debt use has skyrocketed.

If you want to finance the property, it would most likely be a bridge loan through a Hard money lender (12-24 months, 20-25 yr amt, 8%-12% rate, PPP).If you choose to close all cash, you may be able to fill in the apartments and negotiate better financing terms than the hard money, backed with several months showing a healthy cash flow and signed leases.Upon stabilization, you'd be able to refinance to a long-term loan with better financing terms.Hope this helps

I’m keeping it now because alreAdy water under bridge and policy is finally close to breaking even.

Some say to burn the bridges so you can't look back, but for me, having a W2 income can launch and fund your real estate empire much faster than you would be able to otherwise.Your job can also be real estate related.

@Jay Thomas there are actually quite a few local banks that like construction/bridge debt.

@Jehon Bendokas a bridge loan is probably the way to go until you could get the property to qualify for permanent financing.

Why not purchase with a bridge loan and quickly refi out once the work is complete?

I have worked with institutional sponsors (Starlight, Bridge, Taurus, etc) who might be buying large MF properties at 3 or 4 caps.

David Green said it best, "focus on building one bridge from start to finish first, become a master then move onto something else."