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Updated over 1 year ago,

User Stats

63
Posts
20
Votes
Jeffrey Blackman
Pro Member
  • Lender
  • Chicago, IL
20
Votes |
63
Posts

Looking for cash-out financing lender for 6-unit building in Chicago (720 FICO)

Jeffrey Blackman
Pro Member
  • Lender
  • Chicago, IL
Posted

Looking for suggestions for cash-out financing for a 6-unit building I own free and clear. Want to make minor repairs and consolidate debt in advance of selling the property before end of year. Building is fully rented ($6,900 /month), however, with a value of $600,000 a normal LTV puts the loan amount below the $500,000 many multi-family lenders have as a minimum. Not sure if bridge or fix and flip, or something else would be best. Open to all recommendations. Thanks.

  • Jeffrey Blackman
  • Looking for

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