Loan on commercial office space

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I'm located in Honolulu, Hawaii and own a fee simple commercial office space in a small (17-unit), prime location building right outside of Waikiki The property is currently free and clear - no liens. I haven't had it appraised, but conservatively, I would estimate the value to be about $330,000. My goal is to borrow at least 60% of the appraised value. If I could go higher on the LTV, I would. But I prefer to keep the rate and terms as low as possible and sacrifice on the LTV. My tax returns are not good (typical real estate investor), but my assets are strong and my FICO is in the mid-700s. Can anyone help?

If you occupy this office space, the max. LTV you could potentially qualify for is 90%.

If you want to share more details, I can better determine what your options are.

Regards,

Scott Miller

Curious to know what your full situation. What is meant by tax returns not good? That doesn't mean you don't have cash reserves. Is this a coomercial condo?

Originally posted by "cbrestate":
Curious to know what your full situation. What is meant by tax returns not good? That doesn't mean you don't have cash reserves. Is this a coomercial condo?

My tax returns over the last few years show negative income because of depreciation on my RE investments and losses incurred from an engineering company I own. That's what I meant. I have plenty of cash reserves, just not ideal income numbers. And yes, this is a commercial office condo unit.