But you are saying that you would take a short term bridge loan (at a HIGH RATE) to pay off mortgage? 

Also it has a relatively high number of renters (I believe 55% was the stat I read), and there are some big infrastructure projects underway/planned (new mega hospital and bridge).

Also would like more information on selling off the tax credits at the beginning of the project to bridge the gap in financing.I am liking the idea and numbers of the project are promising.

M.recently helped my partner and I obtained a $1.725MM bridge loan at 4.75% interest for our deal.

If you're looking to do more value-add and stabilize the property, a good strategy is taking out a bridge loan, eating the higher rate for a little while, and then refinancing out into a larger, stable agency loan.2.

We did have a few disagreements in the past, but that it was water under the bridge at this point.

I have found some guys who will do expensive short-term bridge loans (9-10%, 12-24 month term), but i am looking for longer term less expensive financing.

I work primarily on the Southside; I don't cross the bridge unless I absolutely have to.

It could be a bridge job between my current one and what I plan for farther down the road.

@Sonu SidhuA fundamental rule in business: avoid owning properties (or doing any business, for that matter) with family and friends.But you already crossed that bridge and will probably dismiss my warning.