Short term, then decide in mid or late July, at that point you can raise rent or retail sell! 

We have done that for the last 2-3 years and have worked with probably 50 different investors and raised over a million dollars in private money loans.  

Raise those rents, lower the expenses and that will have a direct effect on your building valuation. 

I'm curious what your response is when raising money for multifamily investment deals when you're hit with the objection "I'm holding my cash because we are at the top of the market".  

If they do have a lease I was hoping to raise the rent and rent the garage once the lease ends.Apply a second mortgage or home line of credit on my personal residence.

What is the size of the raise and how many investors do you anticipate?

That is some very powerful leverage with you doing some muscle to get the engine running instead of buying the deal.Yes 40-50% is a wise suggestion.

The deal itself is a great project and I don't anticipate any issues with raising the funds as most of us on the GP side have raised money for other projects, but none of us have ever had to go the formal syndication route. 

My biggest challenge is my reluctance to raise the rent..

Within this time frame I also raised 3 children who all graduated from college (expensive colleges I might add :) and now they're all grown and working.