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Updated over 2 years ago,
Advice on Accessing Equity in Mixed-Use
I am looking for advice on how to access potential equity in a small mixed-use building for future investment. I purchased the building for $1.75M with 30% down with a commercial 1/5, 30 year am loan with a traditional bank.
I think the property value has increased based on comps and cash flow to roughly $2.2 - $2.3M
Outside of refinancing and paying a prepayment penalty, what other options are out there to tap the equity for my next investment?