Need a 18 month 100% Bridge Loan on a Single Tenant Retail Building with credit tenant!
Purchase Price is $690,000, it is a 16000sf retail building only 6 years old, built for tenant. It is a foreclosure and has 4 yrs left on lease with two renewals with bumps. NOI is $90,000. I am buying at $43.00 psf, value should be at minimum $900K-over $1MM based on building size,lease with credit tenant and NOI. This one is easy! Bank willnot sign the contract without proof of funds almost like closing with cash. I know where the bank is and have been working on this for some time, it will not last long. I only need funding through the seasoning period to refi into a long term hold loan, which I will qualify. I will not list the address or info until some agreement is moving forward.
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Permalink Reply by Randy Hinkle on
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Sorry send inquiries to rphinkle@gmail.com
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