Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated 6 months ago,
Looking to pull equity *quickly* from almost fully owned Mixed Use Property
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.