We have a ongoing list of each along with their fees and what state they are licensed to collect debt in.

What kind of debt do you have on the property?

It sounds like the issue is with the Debt Service Coverage Ratio (DSCR), which lenders often use to determine how much they’re willing to loan.

Of course, with private lenders, you must give up equity or a return on the debt. 

I look for cashflow to service the debt, repairs, cap ex, taxes, and insurance while the equity grows, my taxes are decreased, and rents are increased to make more cashflow. 

Ultimately it will depend on the property (banks perform stress test-debt ratio)-but I think 5 year term is what I found so far.

Not only was my market timing great, but I sold my less promising buildings and used the proceeds to pay down debt on my long term keeper properties, which have higher end tenants and are thus more stable and much easier to manage.

Total debt is $2,433. 

This takes care of your debt paydown.

I'm almost tempted to turn them over to a debt collection agency because a buck is better than nothing.Cheers.