I am looking for a cash out refi in Berlin, NH for a borrower. There is currently no mortgage. It is a mixed use building at 567 Main St, Berlin, NH 03570. Borrower info below:
It is two residential apartments and one commercial, which is leased by the state. Currently, the rental income is $2455 per month. Taxes are $3000 and Insurance is $1800 yearly.
Purchased it in September 2019 and there’s no mortgage. I placed the title under LLC in July. I have done some exterior work and replaced flooring, but not much more.
I had started real estate investing in 2018. Currently I own 9 properties with 30 units. My goal is to cash out refinance and use that to continue investing. Personal Credit score is around 700.
Redfin places the value at $167,000 and Zillow at $206,000. Berlin is a small town with a population around 10,000. I have no vacancies and average replacement is under a week because of high demand.
If there’s an option you think would work, please feel free to reply or call. I would prefer to have this in LLC and open towards hard money or up to 30 years. My preference, although not a dealbreaker, is a no prepayment penalty.
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