Instead of financing the property twice with regular lenders, you can take a different approach. You can obtain interim, short-term financing from a small pension and then, when repairs are completed, borrow money on a long term basis.

Every self-employed person and every small business can be seen as a potential lender. Look for pensions with sizable deposits in money-market funds or other liquid assets. Ask accountants and attorneys if they know where funds can be found.

Many professionals will help locate pension money if you deal can benefit the fund. Professionals know about pensions because they are specially entitled to charge "reasonable compensation" for their services, even if they're so called parties in interest -that is, trustees or beneficiaries of the plan or fund.

To approach pension fund trustees, as well as their layers and accountants, investors must have an attractive, coherent, and prudent business proposal in mind. A workable deal might look like this:

• The loan will pay a premium interest rate, something above what the fund is currently earning. How much higher is a matter of negation.
• The loan will be for two years.
• To  work on the project, and to raise yields, trustees might require a two-tier interest program.
• The investor must take a capital commitment.
• The loan must be secured by the property as a first or second trust and recorded in local government offices.
• There must be a title examination, survey, and termite inspection satisfaction to the lender
• The investor must buy lender's title insurance.
• The investor must have the right to prepay the loan, in whole or in part, without penalty.
• All loan documents will be in a form satisfactory to the pension fund.

Part of the trustee's evidence should also include a letter from the investor, clearly describing he project, its potential and the risk involved.