Hey Fam! Looking for a lending solution here, thx in advance for reading this novel 🙏🏼
Ok here are the details. Address is 633 3rd st and 289 F st Arcata, CA 95521 (it’s one property with two addresses, one APN#). It’s two buildings on one lot, first building is a 3bed 2bath single family home, and the other is a 5 unit apartment building (4 1bed 1bath, and 1 studio) two of the units I just added to the building and are brand new, the other 3 I have just totally remodeled. The property is in excellent condition everything is recently remodeled inside and out including the house. I have a first private owner carry note on the property of $420K, however the note holder wants to keep the note and is willing to go into second position. I have other debt related to the property fix up that I want to pay off so I’m looking for someone to give me $300k first position cash out. Property is worth $1.2-$1.3M conservatively, fully occupied and cash flowing with virtually 0% vacancy rate. I have near perfect credit and own other cash flowing properties. Any leads on lenders that can do this? Thx!!!
