LOC or Hard Money on $ .7 mill building.
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  1. #1
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    Quote Originally Posted by skideeppow View Post
    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?
    Do a refi cash out at around 6% or so.
    Mike Lewis - commercial real estate loan broker / owner
    No up front fees loan broker
    Commercial real estate loans: Acquisition, refinance, construction and FAST bridge loans from $200k +

    tel/voicemail: 937-964-5355
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    WE CO-BROKER with an even 50/50 split and we both get paid by wire at close.

    We issue a combination mutual NDA / fee split, you introduce your CRE clients to us stating simply we handle your commercial real estate loans, we take it from there and keep you in the loop. When a loan you referred closes, you get paid at close by wire.If you can work with that please do not hesitate to contact us. Our loan forms are vanilla with no company name.

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