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All Forum Posts by: Beth Osler

Beth Osler has started 1 posts and replied 1 times.

Private Lending & Conventional Mortgage Advice

Post: Looking to pull equity *quickly* from almost fully owned Mixed Use Property

Beth OslerPosted
  • Posts 1
  • Votes 0

I own a mixed use property in Hermann MO with only 5k left on mortgage. All 5 units currently rented: LT renters $850/mth, Retail Shop space $850/mth, and 3 STRs averaging 6k per month. Last appraisal was Jan '17 and came in at $490k, before the LTR and Retail space were started (those not factored in). Looking to cash out 350k in 2-3 wks. Would only need the loan for 6 months. Would a low-doc asset based loan be the best way to go? DSCR? Any opinions and recommendations appreciated.

0 Votes
Saint Louis, Missouri