We currently have a property that we have had since 2004.
Its a 1912 built building, 8 unit mixed use, 4 res/ 4 commercial, Grosses about $98k and a little over half comes from the commercial side.
It was on the market, and received an offer at $1,550,000, but the deal fell apart, part the buyer and part our agents, its off the market now. Instead of relisting we are thinking of keeping it, do a cash-out to buy something else, and look into building on it in the future instead.
Los Angeles, CA · Member since 2018 · 326 posts · 279 votes
7y
@Donn Montenegro it sounds like you have decent property and if you bought it in 2004 and you're bringing in $98k you should be cash flowing well so it shouldn't be an issue to refinance.
Are you asking who can help you refinance? There are quite a few commercial lenders that can assist you in this process.
If you need assistance with lenders please let me know.
Lender · Toledo, OH · Member since 2015 · 1k+ posts · 96 votes
7y
Donn, we would like a chance of funding your project, but I need your email address, so we can send you some info on our service, also a questionnaire for you to fill out. Hope to hear from you.