Cashing out equity

[Michael K.]

Hi BP community - any idea on how to pull out cash on the following deal, short of selling it or a full refinance of the property with a new first mortgage?

Looking for a commercial "HELOC" or second mortgage or perhaps private money? What could I expect the rates to be and what banks might do these types of loans?

Rough property value - $1.1 million

Current seller mortgage on the property in the amount of $550k

Looking to increase LTV to around 80%

Thanks,

Michael