All Forum Posts by: Kimberly Land

 HElo, yes I am interested in your lender. Definitely

 HI Erik--this is a single family home, zoned Residential but the use is commercial because it has more than 3 units/rooms as rentals.  Alaska separates the zoning and the use and this is what is confusing to lenders.  They also have a different definition of "use." Because there are more than 3 living units the use is commercial.  Also other lenders have shared with me that because the name has the word "lodge," there are coin washers and dryers, the doors have electronic locks for each room, and the rooms are numbered, this makes it commercial.  We also have a commercial sprinkler system. This has added to the challenge as lenders see this as commercial.  

Looking to refinance a cash-flowing 12-room rooming house in Alaska as my current private money balloon note is nearly due.  This is a commercial deal that. requires a commercial lender or a private lender.  Looking for a minimum 2-year term as this is what the local banks require for seasoning so that we can refinance with them and have a local bank hold our note. Open to suggestions and guidance.  

You and I are on the same page. And thank you.  The local banks all want 2 years of history, we only have 4 months.  We are still pursuing private lenders and partners.  Thank you for your suggestions. 

Can someone help me? I'm looking for a commercial lender to refinance my 12-room rooming house in Alaska.

I purchased a 12-room rooming house in Alaska 4 months ago in January using private money from friends of mine. The rooming house is a very large house but it is used commercially so I need a commercial loan. The balloon payment is almost due and I'm looking for a commercial lender to refinance the property in order to pay off the loan from my friends.

Does anyone have a resource for this? or can provide any guidance? or know any company that can assist?

Can someone help me? I'm looking for a commercial lender to refinance my 12-room rooming house in Alaska.

I purchased a 12-room rooming house in Alaska 4 months ago in January using private money from friends of mine. The rooming house is a very large house but it is used commercially so I need a commercial loan. The balloon payment is almost due and I'm looking for a commercial lender to refinance the property in order to pay off the loan from my friends.

Does anyone have a resource for this? or can provide any guidance? or know any company that can assist?

Can someone help me?  I'm looking for a commercial lender to refinance my 12-room rooming house in Alaska.  

I purchased a 12-room rooming house in Alaska 4 months ago in January using private money from friends of mine.  The rooming house is a very large house but it is used commercially so I need a commercial loan.  The balloon payment is almost due and I'm looking for a commercial lender to refinance the property in order to pay off the loan from my friends. 

Does anyone have a resource for this?  or can provide any guidance? or know any company that can assist?

Hi.Shawn,welcome!!

Can you elaborate a little more on what you mean by mentor? Are you looking for someone to describe the various areas? The good pockets and not so good pockets? Flipping? Buy and hold? Financing? Finally, what's your contribution to the mentor?

I would like to attend. I'm in Chicago, at McCormick Place, but I would like to try a meeting out south and meet with other investors. I'm going to make the effort to finish work a little early. 

Welcome!  

@Candita Darko

When you're ready, you could attend some of the RE meetings in the Chicago area--one hosted by Brie Schmidt and another by Shelly Forte.  There's a south suburban one as well but I don't know who hosts that.  Maybe Brie or Shelly would know.