Real estate lender on non income producing property?
Need a Funder or Vendor? START HERE

Results 1 to 4 of 4
  1. #1

    Real estate lender on non income producing property?

    I have a merchant who is seeking funding on a non income producing mixed use property. He has 2 store fronts and 6 apartments. It has been vacant for 2-3 years. 175k appraisal (before 50k worth of work). Owes 23k currently and is seeking 100-150k to finish remodeling. Any suggestions?

  2. #2
    Senior Member Reputation points: 84417
    Join Date
    Mar 2014
    Location
    Florida
    Posts
    2,952

    Quote Originally Posted by Triumph Solutions LLC View Post
    I have a merchant who is seeking funding on a non income producing mixed use property. He has 2 store fronts and 6 apartments. It has been vacant for 2-3 years. 175k appraisal (before 50k worth of work). Owes 23k currently and is seeking 100-150k to finish remodeling. Any suggestions?
    I have a possible solution.

    Call me @ 727-233-1111
    Dave Lambert, Business Development
    dave@fcbankcard.com
    Merchant Services Consultant
    High Risk Merchant Payment Solutions
    SBA 7(a) Loans & Short-Term Funding
    T/VM: 727-291-7890
    Office: 727-233-1111
    Skype: fc-financial

  3. #3
    Senior Member Reputation points: 16709
    Join Date
    Jul 2014
    Location
    Jackson Hole Wy
    Posts
    727

    Quote Originally Posted by Triumph Solutions LLC View Post
    I have a merchant who is seeking funding on a non income producing mixed use property. He has 2 store fronts and 6 apartments. It has been vacant for 2-3 years. 175k appraisal (before 50k worth of work). Owes 23k currently and is seeking 100-150k to finish remodeling. Any suggestions?
    Yes but depends on location. You need a lender that will finance interest reserves into the loan. COntact for assistance.

  4. #4
    Those all sound like reasonable numbers for WBL give me a call or shoot me an email.

    David Fite
    Account Executive
    World Business Lenders

    Direct: (212) 328-8336
    Email: dfite@wbl.com

Similar Threads

  1. Non income producing real estate financing?
    By Triumph Solutions LLC in forum All Other Lending
    Replies: 3
    Last Post: 06-05-2019, 05:59 AM
  2. Replies: 3
    Last Post: 08-23-2017, 11:57 AM
  3. Replies: 0
    Last Post: 08-23-2017, 11:53 AM
  4. Replies: 0
    Last Post: 07-21-2017, 02:38 PM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

Lendistry welcomes new CFO
LegalZoom partners w/ businessloans.com
iBusiness Funding acquires Funding Circle


DIRECTORY