Need Non-Cash Out Refi to 60% LTV for Rental Property in AZ

[Steve McFarlane]

Looking to refi a condo I own in Scottsdale, AZ, no cash out. I am planning on putting the property into a Fund so am looking for either a non-recourse loan against the entity or a LOC that I can use to leverage the equity for doing flips and growing the Fund. Is this something you can assist with?

Here are the details;

- Owned for 4.5 years

- Owned by my entity K&S Holdings, LLC

- Current est Value $325K

- Current est Payoff $250K

- Looking for a 60% LTV loan for $195K will use cash to pay down (Have $90K liquid available in this entity)

- Current Tenant in their 3rd year of renting, rents are $1,550/mo

- HOA condo dues $285/mo includes insurance + Grayhawk HOA community dues $414/quarter

- Taxes roughly $2,800/yr

Thanks,

Steve McFarlane

Fund Manager - REDA Fund

Partner/CFO - The Platinum Group, Realtors

Office: 719-694-2414

[e-mail]

[Samuel Thomas]

Go to my website at www.samuelcthomas.com and fill out the application for funding.

[Steve McFarlane]

Looking for long term loan not short term hard money loan.

[WKL David]

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[Steve McFarlane]

Need to discuss your loan products before filling out an application. Looking for long term 30 year loan and not hrd money. Your web site is complicated to navigate for reviewing your loan products.

[Samuel Thomas]

Our Long-Term Rental Loan Program offers up to 30 year terms for your buy & hold.  So you can obtain fast funding for purchase, refinance or cash-out.

Rates starting at 5.99%

Term - 30 years & 15 years

Loan Amount -$75k to $1 million

Purchase - up to 80% of the as-is-value

Collateral - 1-4 family non-owner occupied real estate, condos and townhomes

Property Value - "As-is" Appraised Value must be greater than $100k

Credit Score:  620 minimum

If interested, just go to my website at www.samuelcthomas.com and fill out the application for funding.

[Steve McFarlane]

Just to confirm you will do a non-recourse loan against my entity?  The terms on your web site are very different then what you are quoting here.

[Samuel Thomas]

This program is not on my website and a number of other programs.  We might can do a LOC

but we would need to see the application first.  Yes non-recourse loan.

[Rodger Williams]

Hello Steve, do you still need funding?

[Steve McFarlane]

Still looking at options, let me know what you can offer.

[Rodger Williams]

Steve, i sent you an email reply me so we can discuss more about the deal on how best to move forward.

[e-mail]

Rodger

[WKL David]

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[Martin Frank]

Yes i can fund your deal email me direct [e-mail]