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?

Comments(2)

  • cjmazur17th June, 2005

    Have you looked at construction loans?

  • chicagokalo18th June, 2005

    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

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