Seeking $1,000,000 loan on $3+ million in real estate. All residential units have been owned and rehabbed and rented over the last 8 years and cash flow well. 1 Commercial unit is rented. 2nd Commercial property is a new purchased next door to the first, have letters of intent from renters, just need to find permanent financing and rehab. All properties are located in 63119, 63122, or 63123, which are all upper middle class / lower upper class Saint Louis areas.
Need either a long term loan (10 year) or a bridge loan to settle the waters while I seek long term lending.
Would you consider a blanket option on all of the residential units and 2 separate cash out refinances on the commercial buildings?
That might end up being the best thing since most lenders offering the best pricing on blanket/portfolio loans aren't bundling commercial with residential.
On the residential side I could take a look at your rent roll and see what pricing would look like on a 5 or 10 year term (30 year AM) as high as 75% cash out if it debt covers.
On the commercial side we can offer 30 year fixed terms as high as 75% cash out.
Joey, I need some help. I'm not sure if we have any thing that will help you. In order to find out we need the answers to a few questions and, an email address. Thanks again for the opportunity.