The best funding in Chicago?
4 Replies
Bo Smith
from Matteson, Illinois
posted over 3 years ago
Brie Schmidt
(Moderator) -
Real Estate Broker from Chicago, IL
replied over 3 years ago
Originally posted by @Bo Smith :
I have two properties that I am looking to pull cash out of. Don’t want to use personal credit.
How are the properties held? If title is in your name you have to do a loan against your personal credit. If the properties are in a LLC you can do commercial financing against the LLC
Bo Smith
from Matteson, Illinois
replied over 3 years ago
They are both quit claimed over to a corporation. They are worth approximately $140k total. I need to pull out about $75k. Will this work with commercial financing? If so, do you have any companies that you can refer?
Brie Schmidt
(Moderator) -
Real Estate Broker from Chicago, IL
replied over 3 years ago
Originally posted by @Bo Smith :
They are both quit claimed over to a corporation. They are worth approximately $140k total. I need to pull out about $75k. Will this work with commercial financing? If so, do you have any companies that you can refer?
As long as the properties are profitable you should be good. I am not sure if my bank does your area but I will PM you their info
Bo Smith
from Matteson, Illinois
replied over 3 years ago
Thanks Brie. If you know anyone interested in getting an investment property with a tenant attached, have them look at the post that I have in the marketplace. I guess that is as good a place as any to list.