Updated about 6 years ago on .
Funding for a boiler in MI
Hello, I have a cash flowing 4-unit with 4 2 bedroom/1bath units 100% occupied that I am looking for funding for a boiler replacement. I tried getting an equipment loan and no go. If anyone knows of a funding source for this type of situation, please respond to this post ASAP. The building has $42,000 of equity, the boiler should cost $7,000 as there is some pipe replacement needed as well. After the 1st mortgage debt service payment it cash flows over $1,100/month. I am either looking for an loan from a lending institution that covers these types of things, or a private individual looking to put their money to work for them at a higher than market interest rate to anywhere in between. I have other projects going on that when I refinance I could easily repay the loan. If interested please contact me ASAP at [email protected] or respond to this post. Thank you!