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Updated about 3 years ago,
Advice On Small Commercial Financing
I have a double units residential/commercial duo zoned building, and I have 100% equity on the property. It was purchased in 2020 with $78k. One side came with a tenant who provides services to public, and the other side is vacant.
I’m trying to get some cash out so I can get the vacant side renovated and rented out. Spoke to a few lenders, and I was told that the property doesn’t worth enough for a commercial loan, or a heloc.
What other operations are there? I’m confused that I own the building 100%, but I can get any cash out.