Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 2 years ago,

User Stats

154
Posts
54
Votes
Toben B.
  • Investor
  • Tulsa, OK
54
Votes |
154
Posts

Refinance commercial loan on apartment building in small market

Toben B.
  • Investor
  • Tulsa, OK
Posted

Looking for banks willing to do cash out on a commercial loan in small market!

I purchased a small fixer upper apartment building  in a small town of 35,000 about 45 min outside a decent sized metro. 

My funding options were not so great as most banks do not like small deals and small towns. However I bought it right and a bank that knew me did the deal. 

Now three years later I fixed it up, the property is 100% occupied and the property has more than tripled in value and I am getting interest from buyers. 

However after taxes and depreciation recapture and paying back my original loan I may be better off with a cash out refinance.

My original loan was small and amortized over 20 years.  Looking for a bank to do a large cash out refi and amortize over 30 years. 

Looking for a bank to do a loan in the $700K range and finances will support this.

Thank you!
 

Loading replies...