$60,000 small 2nd on a restaurant building
$360,000 repair and refinance on a mini-storage
Weak income and high expenses
Dean came to me needing to refinance a small mini-storage facility. The income was weak and expenses were high as he was stabilizing he property. With the cosignatory of one of the partners in the LLC I found a private group to fund the loan to pay off the existing first and finish the improvements necessary to rent all the units.
$2,100,000 re-finance on restaurant, marina and mobile home park
Unique - odd property
Unique, kind of funky property on a bay in Northern California needed a loan to pay off the current first and make improvements to increase the income. There were too many “odd” aspects of the property for any conforming or “bank” lender to deal with. I found a private group to make the loan and meet the borrower objectives.