Seeking Loan (29% LTV first position) for $175,000 towards $600,000

[Dustin Long]

Hi!

I've posted on this before but wasn't very detailed so I will be now.

The financing would be for a multi-use commercial property (92% occupied) with 4 store fronts, 6 studios, a 2 br. unit, and a loft/penthouse with roof access in a very hot and artistic community in Rochester, NY.

I have a 2nd position already taken care of for $425,000 (financed for 15 years, amortized for 30), and can give you first position for $175,000.

I had financing lined up and the hard money lender couldn't come up with the funds.

I'd like to see something around 10% and would like a term of 24-36 months.

I currently have 6 other properties (2 tripple unit houses, and 4 single family houses) and this new acquisition will double our monthly Net and Gross.

I know I'm new to biggerpockets.com but anyone familiar with me knows I'm resilient and very driven, and I'd welcome any questions you may have either about the deal or about me! I plan to invest for the next 30+ years so it's never too early to make a few good connections!