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Updated about 6 years ago, 09/16/2018
Financing Options in the South Shore Area
Seeking some financial solutions for a cash-out refinance. My group purchased a property with cash while our long term financing application was being processed . There was 1 non-performing tenant that we were aware of and then at the start of the month another tenant moved out and our financing moved out too. We had contingencies plans for a solid re-stabilization of the property if needed. So now we are seeking short term financing, 6 months, at a loan to value of 50% to 60% to do more of our immediate repairs, upgrades, and secure our next property. What are some best approaches to make lenders "more comfortable" with lending to our group.