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Updated about 6 years ago, 09/16/2018

User Stats

316
Posts
130
Votes
Calvin Lipscomb
  • Brooklyn, NY
130
Votes |
316
Posts

Financing Options in the South Shore Area

Calvin Lipscomb
  • Brooklyn, NY
Posted

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.  

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