What it has going for it is that it is close to the University and can draw students if that's the kind of renter you are looking for.2.

- All notices must be served exactly the way the law specifies - example rent increases need to be served on the specific form, you can't just give a written notice of rental increase that you draw up yourself.

Mine us a 10yr draw, option to fix the rate 3x and a 85% LRV.

Do you have any architecal drawings?

Hi @Dutch LangleyIt can be easier using an established HML, you just need the upfront capital to close and get the project going to the point where you can obtain a draw.  

The terms are a 15 year draw period, 90% LTV and prime -.25% rate.

The opportunity to make some improvements that would boost rents was a big draw.

Are you still in your draw period for that HELOC?

Yes, I've had an attorney draw up a lease agreement, but figured I would take this particular question to the forum.

I’ve got a mixed use property that we are in the middle putting together engineered drawings to add 6 apartments to it and getting an appraisal to free up money for the buildout.