Raising cash - lots of equity

[ Follow Ups ] [ Post Followup ] [ CREOnline Cash Flow Q&A ]

Posted by Lin (NC) on October 05, 2009 at 14:02:18:

I have a 16 unit apartment complex worth about $600k. I've owned this complex for two years, and it has a good, consistent history.

There is a $240k balance on the 1st, and no other debt. My thoughts were that my best option is creating a 2nd rather than trying a cash-out refi of the 1st, but I'm certainly open to anything that works and puts about $100k in my hands. The first is at 8% and has a balloon due 10/2012.


I'd like to keep the total LTV under 60%. Payment history on all my obligations is excellent.

Suggestions?

Thanks,
Lin

Follow Ups:


Post a Followup

Name    : 
E-Mail  : 
Subject : 

Comments:

[ Follow Ups ] [ Post Followup ] [ CREOnline Cash Flow Q&A ]

CRE Online, Inc. © 2007, All Rights Reserved.
creonline.com