I don’t think you’ll find a loan (all commercial loans at that size) that will let you officially owner occupy this thing.

But still, we know MSM won’t let this go for a couple years, until they have another impeachment, or collusion, or a worse virus or flu on the table.

to me there are credit lines and then there are credit lines.IE the vast majority have a heloc on their personal home or maybe a rental.. with a credit union local bank big bank etc.then you have credit Lines that are unsecured for business purposes .I have not heard of credit lines being frozen yet.. but I sure saw it a ton in the GFC.. and very few folks that get them on their personal resi or a rental.. actually read the fine print and therefor are shocked when they go to access their heloc for this deal they want and its frozen.our facilities are on one year terms with a mandatory 30 day rest per 12 months.. its been that way for me for 20 some years LOL.. mine are unsecured and of decent size i am not talking 50 to 100k..

You gotta bring something to the table (You say you're a contractor.

@Anthony Fazekas20% down seems to low on a property this size. 25-30% down would be solid for any lender.

Obviously I don't know the size or condition of the property but >100k sounds very very steep.

While my cash cushion from the last 2-3 years will help me weather the storm, I am worried about people like my maid who depend on this income to put food on the table.

MIGA offers political risk insurance, but typically only for much larger transaction sizes.

They may lend on just the rehab portion, but keep in mind they have minimum loan sizes so you would have to be able to get over that line.

Lot's of buyers are getting cold feet so it could be a good time to be the only seat at the table.