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Updated over 1 year ago,
Commercial loan needed to buy and fix up apartment building
Hello,
I am in escrow on a building in North Memphis and need to get a loan to buy the property and fix it up, can anyone point me in the right direction please of a good lender for this? someone who is quick is ideal since I am already in escrow. I also have some 1031 funds from a property sale as the down payment....Alternatively a personal loan to buy the building and then I can fix it up down the road since it is a historical building and I might need time for all that process and getting the tax credits.
I have 50% down payment (some of this is part of a 1031 exchange) and excellent credit,
Other option is to get some type of portfolio on loan based on my other investment properties?
Any advice appriciated
Thank you
Jemma