5 years ago your friend, John, purchased a small retail building downtown with a $70,000 NOI at a 7% cap rate. He financed the acquisition with a 75% LTV mortgage with a local bank a 5% on a 30-year schedule. You lent him $150,000 and took a second mortgage position at a 9% rate. John provides the rest of the equity from personal sources. The property was, and up until last year, occupied by a Book Store that paid $40,000 annually (triple net) and a coffee shop that paid $30,000 annually (triple net). Last year the Coffee Shoppe went out of business and stopped paying rent, the book-store remains open and is paying rent. Two months later John stopped paying the first mortgage as well as your loan. Today John was presented with an opportunity to get a new tenant to take the coffee shop space and pay rent annually of $35,000 (triple net) but it would cost $25,000 for fit-out. He asked you to lend him the money for the fit-out. Would you do it and why?