urgent financing

[Melissa Wartman]

 Thank you for taking the time to review my project! 

I currently own a 2 unit lake from on portage lakes on 9 lots... currently I owe a Balloon due this June of 149k currently valued with recent sales comps at 310k. I put 20k down 3yrs ago and 20k into this 2unit. 

The same seller is selling me a 4 unit lake front with a total of 5 parcels.  Currently valued at 610 to 725 with recent 4 unit lake view only sales subject is lake front with docks.  I am under contract for 337,500. He is trying to buy a new house but due to living in 4 unit he had debt to income issues. The two properties together gross 6900 month, this increases our llc monthly profits by 43%. Our current llc is valued at 1.4 million,  with this we will increase to 2.2 million. 

Total loan amount 500k,  total value (based on low value) 960..total ltv based off lower values is under 55% using both properties as collateral. 

We r preapproved to refi llc as a commercial refi in 8 months ..only need very fast short financing when we refi we will be under 45% total ltv for our refinance,  with increased profits with out raising rents.