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Updated about 2 years ago on . Most recent reply

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48
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Huggy Ford
  • Rental Property Investor
  • Simi Valley Cali
9
Votes |
48
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Looking to get a loan on a paid off property in La Jolla CA

Huggy Ford
  • Rental Property Investor
  • Simi Valley Cali
Posted

We were going to sell our La Jolla property, but a land lease is making things harder. Now we're going to rent the unit instead. It's paid off and we would like to get a little liquid. The land lease is now at 29 years. The property at 9737 Keeneland Row La Jolla Ca. Ideas appreciated 

  • Huggy Ford
  • Most Popular Reply

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    Dave Skow
    • Lender
    • Seattle, WA
    899
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    Dave Skow
    • Lender
    • Seattle, WA
    Replied

    @Huggy Ford- thanks  1)  try  contacting the smaller to mis size credit unions and banks in the La Jolla  area  for  options  2)  do some research on other nearby properties that  are in the same  situation to  see if you can  find  recent lenders that  have made loans to these properties  3) if you still live in the  property  definitely try to  complete this  task BEFORE  you move out of the  property as  getting a  primary residence loan  will be  much  easier than  getting a loan on it when its an investment property .

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