Updated over 11 years ago on . Most recent reply
Lender needed in Detroit, MI
I am about to put a FSBO home under contract in Detroit. I am looking for a source of financing in the Detroit, MI area that will loan to an out-of-state LLC for a cash-out refinance scenario. I am planning on using my own funds to purchase and do some minor rehabbing, but then would like to do a refi to recapture my cash in to this home. It is a small loan (approximately $25K), and my plan is to hold this property for cash-flow. Can anyone point me to a source of funding for this purpose? Preferably a portfolio lender or commercial lender.