15% cap commercial property BUT open enviromental....now what

[Andy Grebe]

I knew this property and the environmental would be a tricky deal and I have limited experience.  There has been site work on this property but solvents run into neighboring properties.   Here is where we are today -

- working with an environmental attorney (he said to escrow multiple of 3x of quotes on environmental

- looking for quotes for environmental insurance

- traditional lending commercial broker say they can't do the deal with Open DNR case

- what hard money / alternative financing options exist??  My thought is to spend 1-2 years getting a closure letter and then refinancing.   Any thoughts / idea's / strategies??  Thanks!!