Financing A Condo Conversion In Chicago
Purchase Price: $500,000
Repairs/Rehab: $300,000
Value after repair: $1,200,000
Converting a condo and need 70% of the ARV (after-repair value).
What options do I have?
Have you looked at construction loans?
cjmazur - I appreciate any suggestions.
goldenchild - thank you also. I am merely identifying the first thing to find the correct way to structure my deal to see if it is feasible. I have done several rehabs in my day, but I have not yet done a condo conversion. I have some ideas of what direction to go, but I am always trying to get suggestions from experts. Also, thanks for the link