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Updated over 2 years ago,
Jacksonville, Florida - Commercial lender recommendations?
Hi BP..
I recently completed purchase on a 5/2 SFR all cash shortsale in Murray Hill, Jacksonville (while living in Korea)..
The purchase price was around $45K.
I purchased with 3 other partners, two are local residents in Jax - Title is held in an LLC.
We currently have an inherited tenant in at $695. We think after their lease is up, we can do some minor plumbing repairs and up the rent to $950.
We're looking for a commercial bank that could help us refi out.
Still new to the world of financing so I was wondering if anyone out there had any advice on how to approach commercial lenders or if they had any leads that they could recommend? I'm assuming because title is held in an LLC a commercial lender is the only choice we have?
Thanks.