[skideeppow]

I have a long term client, has a mixed use building he owes $1.7 mill on and it was valued at $4.5mill in 2019.
Looking for a LOC or something to take some funds out.
He is currently paying 4.5% with his local bank.

Any suggestions?

[fundingdaily]

Where is building located?

[Yankeeman07]

I have a long term client, has a mixed use building he owes $1.7 mill on and it was valued at $4.5mill in 2019.
Looking for a LOC or something to take some funds out.
He is currently paying 4.5% with his local bank.

Any suggestions?

2 Quick Questions:- Can we assume he went to his bank and was declined?
Business Owner understand he will be @ 4.5% - and if so - what rate is he willing to pay?

**Hard Money will be 9% + as a 2nd mortgage

[skideeppow]

Where is building located?

Brooklyn NY

[skideeppow]

2 Quick Questions:- Can we assume he went to his bank and was declined?
Business Owner understand he will be @ 4.5% - and if so - what rate is he willing to pay?

**Hard Money will be 9% + as a 2nd mortgage

No, he has not gone to his bank. And yes I explained hard money would start at 8%. I know most hard money lenders will not take 2nd position, that is what i was entertaining the heloc.

[Steven_O]

Dan Page just dropped a LOC program for commercial property (7.5%-9%, must draw atleast 50% upfront). He's the man. Boulder Equity. You've been around; I'm sure you have his number - but if not, PM me!

[skideeppow]

Dan Page just dropped a LOC program for commercial property (7.5%-9%, must draw atleast 50% upfront). He's the man. Boulder Equity. You've been around; I'm sure you have his number - but if not, PM me!

yes i do, i will give him a call thanks.

[abfunders]

Dan's product is "structured" and first position only

[Jstarr]

I have a long term client, has a mixed use building he owes $1.7 mill on and it was valued at $4.5mill in 2019.
Looking for a LOC or something to take some funds out.
He is currently paying 4.5% with his local bank.

Any suggestions?

call me.