Bought self storage on Land contract 2yrs ago now what ?

[Carl C.]

In July of 2015 we bought a 26 unit self storage for $39,000. On land contract. We Put $5000 down. We currently owe around $26,000. The balloon payment comes due in July (2 yr loan). Now my question is 

How do I get a loan on this property with a low credit score ?  

[Michael Wagner]

May seem obvious but have you asked the current note holder to extend?  Maybe sweeten the deal with 1% increase in interest or a lump some of $x.xx?  Will an extra year allow you to improve your credit enough to get a loan? Has your credit improved since you bought it or is it going the other direction? Or, given that you have 5 months still, would you consider selling it? Whats it currently worth?