All Forum Posts by: John Everett

 Thanks Ken for the info!

Any information anyone has on lease purchase on Florida East Coast

Interested to know how to determine value of a Mixed-Use Commercial consisting of: two 3/2 rental units, 3 commercial store fronts on 50x100 lot.

5 units total. Stores combined approx 5k s.f., rentals 1k s.f. per.

Entire property vacant for several years (elderly gentleman purchased in 2000) and did absolutely nothing!

Vacant stores need complete gutting.

No rental history, I have future assumptions based on comps.

Assessed value: Land value $168,500, Building value $98,300.

Total assessed value: $268,800 (last time assessed by city in 2012)

Asking $350k, needs $100k in rehab.

My gut is buy near assessed value.

Seasoned Investors', your comments greatly appreciated!

How did you find out about TD LOC?

Was it a local branch, 800 number or other?

Thanks for the info!

Anyone know criteria NJ Lender willing to do LOC on Investment Condo owned free and clear by someone who is self employed with not so great credit or do they look at just the property itself i.e. rental income, value etc.?

Chris Martin,

So are you saying Commercial Lenders will have a Home Equity Loan Product? If so, does your credit & income factor in if you have bad credit and are self employed? Please advise.