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Updated over 9 years ago on . Most recent reply
Collateralized loans
Are any lenders in Denver/Boulder doing long term loans these days collateralized with liquid assets?
Scenario:
Refinance of a flip to hold. Owner has about 1/2 cash in and 1/2 on a short term int only bank loan. He needs to refi to get some cash out and lock in long term. Has excellent credit but only in new job 8 months, plus it is a sales job where a large % of the income is commission, but making good money.
ARV: $315K
Cost basis: $250k
Rent (per Rento meter): $1800-$1950