ReFi on Ag land with rent roll and good P&L

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ReFi on Ag land with rent roll and good P&L

Flipper/Rehabber · Reno, NV · Member since 2016 · 235 posts · 35 votes

Hey there! I have 45 acres I rent out for agricultural purposes and have for many years. I have a 6% Owner Carry on it which has a balloon next year. I'd like to ReFi into something with out a balloon. Any body have any solutions?

Thanks!!

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Joshua Fulenwider
Rental Property Investor · Greeley, CO · Member since 2017 · 226 posts · 99 votes
9y
Talk to a portfolio lender with a specialty in Ag. I have financed deals similar to yours but you have to find a lender that is comfortable with Ag.
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Sam Stout
OP
Flipper/Rehabber · Reno, NV · Member since 2016 · 235 posts · 35 votes
9y
Ok thanks @Joshua Fulenwider
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Jared RineBusiness Member
Lender · Sacramento, CA · Member since 2009 · 1k+ posts · 277 votes
9y
@Sam Stout..did you find a solution for this yet?
Thanks,
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Sam Stout
OP
Flipper/Rehabber · Reno, NV · Member since 2016 · 235 posts · 35 votes
9y
@Jared Rine I did not find a solution yet, but I've been out of the country on vacation. Got a solution?
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Jared RineBusiness Member
Lender · Sacramento, CA · Member since 2009 · 1k+ posts · 277 votes
9y
@Sam Stout..That's a good question =). I'd need to see some more info, so this comes with a grain of salt.
If you're looking for a long term fully amortized loan, it's not likely, at least not at the rate your carry is at. If you're open to finding options that will take out the owner carry and put you into something longer term, maybe. PM me.
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