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HomeForumsPrivate Lending & Conventional Mortgage AdviceLooking to pull equity *quickly* from almost fully owned Mixed Use Property
Beth Osler's profile image
Beth Osler's profile image
Beth Osler
  • Member since Sep 10, 2018
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Beth Osler's profile image
Beth Osler's profile image
Beth Osler
  • Member since Sep 10, 2018
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Beth Osler
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Private Lending & Conventional Mortgage Advice

Looking to pull equity *quickly* from almost fully owned Mixed Use Property

Beth Osler
Posted Jul 10 2024, 12:21

I own a mixed use property in Hermann MO with only 5k left on mortgage. All 5 units currently rented: LT renters $850/mth, Retail Shop space $850/mth, and 3 STRs averaging 6k per month. Last appraisal was Jan '17 and came in at $490k, before the LTR and Retail space were started (those not factored in). Looking to cash out 350k in 2-3 wks. Would only need the loan for 6 months. Would a low-doc asset based loan be the best way to go? DSCR? Any opinions and recommendations appreciated.

St. Louis, Missouri
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