Variable rate but right now rates are so low that it’s a great opportunity.

I am looking for some direction on securing financing for renovation on a mixed used property that I already own without using my own money.Some background: ~ We currently owe about $100k - purchased 2.5 years ago @ $149k via commercial loan (25% down, 5yr fixed @ 5%, 5yr variable with balloon after yr 10) (PI = $735)~1 commercial space in the front (beauty salon, which is owned & operated by my wife) and 2 apartments in the rear (1/1 ground level & 3/1 above).~ We did a renovation to the commercial space (approx $35k) when we first bought the building including new electrical, plumbing and heating/air.

I'm no expert, but when buying in Hawaii there are a lot of variables to consider.

Retail guys charge 3-5 times what a contractor working wholesale will charge… so there are so many variables you really need some quotes when getting started.

Here is the context since I know some of the variables might change the answer.

Again, there are so many variables I hate using a per foot number like this but it'll keep you out of trouble (again, for the most part!).

Also, what % do you guys shoot for on STR's and is there any other variables I should be eyeing on the analysis side of things? 

Hey JordanHELOCs are Typically 10-year draw period interest-only payment variable rate, and a 20-year repayment period.I would go with a bank/credit union for a HELOC as the majority of them don't charge for closing costs.

There are other variables that will help determine the best approach for you.

@Jordan Stavrev , Regression analysis is a statistical model to estimate the relationship between variables (price and sf in this case).