Commercial Equity
can i make a equity line of credit on a commercil property. or they only way to make cash on it , is with second mortgage, sell a note as a second mortgage or refinance? i would will like to find a way to get the equity out of this prperty that doenst cost me a fortune.
property in question 2.2 mil worth, 1.5 mil loan its a fully occupied office building with a noi of 210k. any ifo would be appreciated
I would suspect that your building is already maxed out on the LTV (70%) that you can get through conventional sources. Although I am sure there is a way to pull more out, it likely will not be cheap.