Posted by Michael Morrongiello on February 17, 2000 at 07:23:21:
Am holding 2 “Land Contracts” net value about 40k at full property value. May get 50cent on them - not worth it. Selling a gem like this is a shame - should be able to find money on this - numbers look good
Dean Lindsey
Commerical financing - Posted by Dean Lindsey
Posted by Dean Lindsey on February 15, 2000 at 17:58:03:
Need Help! looking for 74%, 20yr 9.25% first with a 55k cash out for bill pay-downs and reserve build-up. Unit is 8yrs old 6 commerical,6 2bdrm apts -fully leased with good cash flow, appraised @545k cap @533k Had slow pay in fall, dropped score - need to restructure some of my equity. Please advise
Re: Commerical financing - HARD TO COME BY - Posted by Michael Morrongiello
Posted by Michael Morrongiello on February 15, 2000 at 20:13:22:
Dean:
On a mixed use property like that with the history you’ve described that type of loan will be hard to come by.
Do you hold any real estate secured paper that you collecting payments on that might be converted into cash to help alleviate some your debts? OR would you consisde selling this property quickly to accomplish the same goal?
Michael Morrongiello