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Equity loan info needed on commercial properties in Georgia
Looking at equity loan or line of credit on commercial property. Limited income. Good credit and have 2 commercial and a few residential properties debt free right now. Is there a way to get approx 300k-$400k at a decent rate on one of our commercial properties. (property we are considering equity loan on would appraise at $900k)
I am using the funds to do flips. I have 3 flips under my belt this year and a licensed GC partner that has done several flips over 20 years but I was using funds from a land sale that I now need to to complete our vacation/VRBO home. We have a great real estate attorney that can review any options you have quickly. I am in Ga. Thanks in advance.