Multi property refinance, private money, etc

[Eric Cross]

I have a commercial loan coming due and I require a refinance. Total required $425,000+/-. I'd be open to a cash out to pay off some other nonsecured debts if the numbers worked. The less documentation required on my part, the better. The note is currently with Truist. 20 Properties and 22 units in current loan package. Value is in excess of 1 million. 100% on time payment history for 5 years. Credit score >700. Portfolio is a mix of SFH, 3 Duplexes and 1 or 2 Triplexes.

Ideally would like a 5 year amortized over 15 with a mortgage rate reflective of current rate environment. I'd like to avoid any prepayment penalties being built in. Once the rates come back down to earth, Id like to refinance to a better rate without penalty. I would be obliged to use the same lender that initially completes the deal. In a perfect world we would go to closing tomorrow,Truist would get paid and new lender would get the deed of trust and I'd just change who I sent the check too.

I'm a licensed Registered Nurse in NC since 2008. I've owned rental real estate since 2012. I'm currently working a contract at a local hospital and managing 50 owned rental units.

If this is a problem you have a possible solution to, please do tell. If you know someone that may have an interest in this deal, please pass it along.

Thanks,

Eric

[Wyatt Wolff]

Shot you a PM! 

[Erik Estrada]

Quote from @Eric Cross:

I have a commercial loan coming due and I require a refinance. Total required $425,000+/-. I'd be open to a cash out to pay off some other nonsecured debts if the numbers worked. The less documentation required on my part, the better. The note is currently with Truist. 20 Properties and 22 units in current loan package. Value is in excess of 1 million. 100% on time payment history for 5 years. Credit score >700. Portfolio is a mix of SFH, 3 Duplexes and 1 or 2 Triplexes.

Ideally would like a 5 year amortized over 15 with a mortgage rate reflective of current rate environment. I'd like to avoid any prepayment penalties being built in. Once the rates come back down to earth, Id like to refinance to a better rate without penalty. I would be obliged to use the same lender that initially completes the deal. In a perfect world we would go to closing tomorrow,Truist would get paid and new lender would get the deed of trust and I'd just change who I sent the check too.

I'm a licensed Registered Nurse in NC since 2008. I've owned rental real estate since 2012. I'm currently working a contract at a local hospital and managing 50 owned rental units.

If this is a problem you have a possible solution to, please do tell. If you know someone that may have an interest in this deal, please pass it along.

Thanks,

Eric

 Hi Eric, 

Are you looking to do another portfolio loan, or are you open to breaking these up into multiple loans? When is your note due? Are all of these in the same state? 

[Eric Cross]

@Erik EstradaHi Eric,

Are you looking to do another portfolio loan, or are you open to breaking these up into multiple loans? When is your note due? Are all of these in the same state? 

Erik,

     I'm open to breaking them up into smaller loans if required for a deal to be completed. Note is currently due with bank giving me time to procure outside funding. These are all in North Carolina.

Eric

[Simmy Ahluwalia]

@Eric Cross - happy to look at this for you and propose a portfolio loan solution.  

[Mary Ainsworth]

Sent you a PM!

[Logan Singleton]

Hi Eric, Do you still need funding for this project?

[Jeremiah Phipps]

I am a private money lender. I would love to hear about your project. Text me with a good time to talk 412-709-2506 

[Kristie Laufer]

Hey there! If you are still looking for a lender, I'd be happy to assist you with you deals. Let me know if you have time for a quick chat. -Kristie