Commericial Hard Money - New 1st or Small 2nd - Posted by Old House Investors

Real Estate Investing Office
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Posted by Joe Alonso on April 14, 2008 at 19:28:57:

This is going to be tough all the way around, I believe.

First, 2nds on commercial are difficult, and even if so, the loan amount may be too small.

Secondly, 60% of value on that value is a great and do-able loan. Your time frame is not realistic, however. Unless you’re willing to go for hard money, commercial loans close in 45-60 days. On top of all of this, you want it for 6 months. There will be prepay penalties associated with the commercial loan. It’s going to cost you.

If all you need is $100k, get if from high credit limit credit cards or family/friends.

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Commericial Hard Money - New 1st or Small 2nd - Posted by Old House Investors

Posted by Old House Investors on April 10, 2008 at 14:39:40:

Washington DC - 15,000 square foot office building 90% Occupied

We are in need of private financing in the amount of $100,000 or payoff 1st and lend 50%-60% of value.
Term needed is 6 months
Secured By Occupied Office Building Worth $2,000,000
Balance is $675k

Must be able to close within 7-10 days.

If interested, please email, your name, firms name (if applicable), term and your contact phone number and email.