Cash out Refi Options if partner has bad credit?

[Nick Rivers]

I have a mixed use commercial /residential investment property I own with a partner. Bought last year and put 80K into it. The note is 280K  and we have approx 200K in equity in it post reno.  We rented it out and make 4K a month.    Come to find out when trying to do a cash out refi my partner has been slipping on some of his own bills and his credit is real bad now.  Partner makes plenty of money he just needs a bookkeeper.  It's investment property so we can't go Fannie or Freddie because of the type of property.   Portfolio lender said he wouldn't touch it because of my partners credit.  My credit is good.  What are my options here?   Would a different portfolio lender take it on with just me as an applicant and we pull my partner off the loan?    The guy we talked to said no but I have a hard time believing somebody wouldn't take this on.  We want to pull 80-100K out if possible.  Just looking for some suggestions

[James Johner]

@Nick Rivers

Try another bank. The last property we purchased on a standard bank loan didn’t even pull mine or my partners credit. We supplied a PFS and the property details and closed. If a bank tells you no, ask why and then go to another one. There is plenty of money out there to lend. You will find something.