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Updated over 5 years ago on . Most recent reply

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Erik Bunch
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Anyone know of commercial hard money lender

Erik Bunch
Posted

I purchased a commercial property to open retail business 2 years ago. Unfortunately I closed the business after 6 months. I have repurposed the 600 sf building and turned it into an air bnb rental. I purchased the property for $129,000 put 20% down. I owe about $90,000 on it. Currently I am in a 5 year loan 7 % interest, payment is $1200 a month with a $65,000 balloon due in 3 years. I would like to refinance into a long term fixed loan no balloon. Please let me know if anyone has any ideas to help. Thanks!

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545
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Jameson Sullivan
  • Real Estate Broker
  • Tacoma, WA
251
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545
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Jameson Sullivan
  • Real Estate Broker
  • Tacoma, WA
Replied

@Erik Bunch why cant you refinance with a traditional lender?

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