Bridge Loans - Extensions for TI/LC's
Question for you guys,
You want to get aof property but also need funds for TI/LC's. You want to set it up so that you can get an extension on the bridge loan for those TI/LC's. How do you go about structuring/modeling something like that?
I figured it would be like some sort of LOC where you draw down instead of taking out bridge loan for full amount (avoid paying interest on total amount for term of loan) - how would a lender structure/do this?