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Updated about 8 years ago, 12/25/2016
Line of Credit on 4plex - California based property PLEASE HELP
Hello All,
We're looking to get a line of credit on a 4plex.. Current loan balnace on first is $565k, gross rents are $7k a month and value is $1.1m. This asset is in California. Princpals credit is good and income. Would anyone know of any lenders who would lend $200k on the subject at 4.5% to 5% please let me know. We understand most traditional banks may not offer such a product however like the big tycoons say just keep searching and never give up!
Thank you