commercial property refi

[Scott Sol]

I own a property free and clear that I lease to my business. I was thinking about taking money out to reinvest that in something else that may earn a decent return. What kind of rates can I expect? What are the best sources for this type of capital?

The business is very solid with lots of cash flow. I have plenty of assets to pay back the loan the overnight if I need to. Can I approach a bank and get some money out at a very favorable rate? What do all the experts think?

[Scott Sol]

Thanks for your replies. So basically ask the bank for a refinance loan? Is there a rough estimate of the transaction costs involved in this?

Any other tips on getting the best possible rate? I have a large national bank that I have accounts with and then a local one that we also do business with.