[Incbiz440]

Looking for recommendations for an owner occupied CRE cash out for around $100k, with a quicker turn timeline of a max of a month. Looking for a loan structure, not MCA secured CRE, but can be shorter term of 3-5 years with a monthly payment. Looking to get some cash out without destroying cash flow.

Thanks in advance for suggestions.

[abfunders]

I sent you a lender intro. $100k is a small RE deal, but at least it's certainly a good way to start with any lender.

[Olderguy]

A lot of hard money lenders just tend to put people in 2 year I/O bridge loans which I discourage. So be aware.


I typically do these NoDoc 10 year fixed Interest Only, then 20 year amortized. 65% Loan to value cash out on CRE. if decent Fico 10.49%. 5 year prepayment penalty 5,4,3,2,1. You can do a prepay buy down to one year at a cost of 1.5%. Lender fee usually 2%.

Reach out.

I always recommend 10 year I/O instead of the typical 2 year bridge with a balloon.

[Incbiz440]

Interesting. Has to be first position or will they take junior?

[Olderguy]

Interesting. Has to be first position or will they take junior?

loan amount too small for second position and that requires docs and fees...doing one now 20% interest 60 months but $250K+ loan amount and needs to be a good property.

[omegafund]

Looking for recommendations for an owner occupied CRE cash out for around $100k, with a quicker turn timeline of a max of a month. Looking for a loan structure, not MCA secured CRE, but can be shorter term of 3-5 years with a monthly payment. Looking to get some cash out without destroying cash flow.

Thanks in advance for suggestions.

It would be helpful to know the location and type of property.
Any other tenants or 100% owner occupied?
Most funds are not going to go out 3-5 years for 100k. IF the credit is good and equity is there have them go to local bank

www.omegafund.com