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Updated over 4 years ago on .

User Stats

403
Posts
338
Votes
Matthew Drouin
  • Developer
  • Rochester, NY
338
Votes |
403
Posts

Need 2nd Position Commercial Portfolio Line Of Credit/Loan Help!

Matthew Drouin
  • Developer
  • Rochester, NY
Posted

I have been investing in and developing real estate for 15 years.  I own 23 properties that are comprised of 120 units of residential and commercial.  I have a fair amount of equity in this portfolio, about $2.6 million.  I really need to find a credit facility that allows me to leverage this equity to buy larger deals.  In the past I have had to raise capital from hard money lenders, friends and family.  This process is very inefficient, especially when you need larger sums of capital between $1 million and $2 million.  This would be my ideal scenario:

1.)  Leverage that $2.6 million in equity into loan or line of credit to purchase property.

2.)  5 year term.

3.)  8% interest.

I have a great track record, excellent credit and own high quality, well located assets.  So I'm assuming that there would be a lender out there somewhere who offers products like this.

Please help!