Rental Property Investor · Centennial, CO · Member since 2019 · 22 posts · 6 votes
I'm looking to cash out refinance a 5-unit property in Des Moines, IA at 75% LTV based on the appraised value. I estimate the value will come back around $225-240k, which of course doesn't meet many lenders' minimums. I've reached out to community banks as well, but not getting much traction or the terms I need. Anybody know of a lender that can provide a commercial loan with those terms for such a low amount in Iowa?
Lender · Toledo, OH · Member since 2015 · 1k+ posts · 96 votes
6y
Drew, maybe we can help you with this loan, please answer these basic questions so we can give you a quote. Thanks again, also I need your email address
How many deals or projects did you work on close in the last 36 months?
Lender · Atlanta, GA · Member since 2015 · 1k+ posts · 200 votes
6y
@Drew Leonard - we might can help you out here. Assuming 100% occupancy here with long-term tenants? Shoot me an email, and let's see if I can get you a quote - [email protected]