Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 2 years ago on . Most recent reply

Account Closed
  • Real Estate Broker
  • Connecticut
0
Votes |
3
Posts

Trying to access $300,000 equity, I built. Is there any solution?

Account Closed
  • Real Estate Broker
  • Connecticut
Posted

Hi everyone. 

I leased a warehouse 2 years ago with option to purchase. I finished renovation and 3 months ago I found a hard money lender to purchase the building. I couldnt get any cash out. It is going to be a self storage. 16,000 sqft gross area and 12,000 rentable area with $12,000 potential gross income. Total investment so far $150,000. Current mortgage: $400,000.  Appraisal value done in June 2020, as-is $735,000 and after complete $775,000. Complete means build another 33 units which cost me $50,000 to do it.   My credit score 620, all credit cards maxed out.  Looking for a cash-out refinance or $100,000 loan with second position. If not doable, so far it is not, any other solution you may think of ? 

Loading replies...