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  1. #1
    Senior Member Reputation points: 203054
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    commercial refi owner occupied

    who can refinance an owner occupied commercial building? Everyone I have spoken with only does nonowner occupied. Clean file, great credit, income, ltv etc etc?
    Last edited by Sachip24; 08-04-2020 at 03:30 PM.

  2. #2
    Quote Originally Posted by Sachip24 View Post
    who can refinance an owner occupied commercial building? Everyone I have spoken with only does nonowner occupied. Clean file, great credit, income, ltv etc etc?
    Do you have a package or more info you could send to info@micomfunds.com

    1.) Need the loan amount
    2.) Credit score of the borrower
    3.) What it is
    4.) Where it is
    5.) Approx. value


    Tom

  3. #3

    Executive Summary

    Quote Originally Posted by Sachip24 View Post
    who can refinance an owner occupied commercial building? Everyone I have spoken with only does nonowner occupied. Clean file, great credit, income, ltv etc etc?
    Hello,

    We need the Executive Summary on the deal, including the current property value and what is owed on which property in order to come back with a potential offer.

  4. #4

  5. #5
    Veteran Reputation points: 134971 Chambo's Avatar
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    Quote Originally Posted by Sachip24 View Post
    who can refinance an owner occupied commercial building? Everyone I have spoken with only does nonowner occupied. Clean file, great credit, income, ltv etc etc?
    the issue with OWNER OCCUPIED is that if things start to go south on the deal, the tenant/owner can tie up collections for months with modifications. Then the whole business vs personal question comes in to play....if the merchant LIVES THERE, it is personal

  6. #6
    Senior Member Reputation points: 34509 Jstarr's Avatar
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    Call Me.

    Quote Originally Posted by Sachip24 View Post
    who can refinance an owner occupied commercial building? Everyone I have spoken with only does nonowner occupied. Clean file, great credit, income, ltv etc etc?
    Jerry Starr
    Insource Funding
    433 Plaza Real, Ste 275 Boca Raton, Fl 33432
    P: 800-805-3391 Fx: 561-270-6895
    Jerry@insourcefunding.net | insourcefunding.net

    WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL

  7. #7
    Senior Member Reputation points: 7360
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    Please feel free to reach out. Owner Occupied Commercial is not necessarily an issue, depending upon type of business and profitability. I am funding an owner-occ internally right now. What we have to do though, is look at what the comparable rents are in the submarket for similar space. Funding will be dependent upon how the numbers shake out from that exercise.

    We are super busy funding right now, with 67 in-house deals in underwriting and getting docs/appraisals done. Rates range from 5.5% - 11.5%.

    Please email me at Dan@BoulderEquityPartners.com and we can do the dance. Please don't respond here as I don't check back enough and don't want to miss you.

    Thanks,

    Dan Page
    Boulder Equity Partners
    Direct: (303) 938-8280

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