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Updated over 9 years ago,
Looking to use a bridge loan creatively
Hi all! I'm looking to do a deal creatively for 60% LTV. Here's the scenario ; value 1.8M, commercial space 10k sq ft, 2k sq ft currently rented at 4500.00/mo , 8k sq ft needs 50k in redevelopment, motivated and cooperative seller. I'm looking to offer 60% or 1800000.00 with 50k towards rehab.
Seller would be open to creative deal so long as it closes. Any advice besides vanilla financing and negative Nancy's would be appreciated!