Commercial Lending Options

[Karmina Luna-Dominguez]

I'm currently under contract for my very first property! Hoping to close at the end of February! My goal is to have another property by the end of the year; however, I'm struggling ways to leverage cash for my next deal. Since my current property is a 7 unit, I had to go through commercial lending. I tried looking around for a lender that will do a HELOC on investment properties with no luck. I was told this would be considered a business line of credit? On the BP Rookie show #55 Ashely mentioned options for commercial lending - anyone know how I can take out cash and leverage my current property with the commercial lending side in order to make my next goal? For local lenders I'm investing in Rochester NY area. All and any advice is appreciated!