NEED Commercial Financing in MI !

[Nayeem Amin]

Hello All,

my name is Nayeem Amin and I'm a Realtor and real estate investor based out of the Metro-Detroit area in Michigan.

This is actually my first real (Non-Reply) post on the forum, so I wanted to introduce myself and quickly mention what a great asset BP has been! Thanks to you guys (the community) for all of the knowledge on the forums and podcasts!

I currently have a commercial property under Land Contract which is coming to an end this coming December 2015, and am in a situation where I will need to Refi out of our upcoming Balloon payment in the amount of $210,000. My estimated market value for the property is $450,000, so there is already built-in equity in the property.

Ideal terms would be longer-term (7-15 years) financing, but I will consider any and all possibilities.

I am exploring all venues for financing considering our limited timeline, and that is why I decided to reach out here in hopes of finding some quicker funding, in addition to my efforts at local credit unions & banks. I am willing to put down a larger down payment, if necessary, to gain access to the capital investment I need.

In short, the property is a 5,200 square foot property with 3x suites, 1x of which is rented by a multi-decade tenant (very long term), 1x of which I'm in the process of completing a new build-out for a business, and 1x of which is currently occupied by my Health Care business.

If you are a commercial RE lender, or have any information or contacts whom you think could be of help, I would genuinely appreciate your suggestions and inquiries!

Any leads to lenders who can turn around a loan quickly will be genuinely appreciated!