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What do you think about this scenario Kevin:
We are looking to refinance our existing rentals and land contracts. we own 190 homes in west Michigan and 20 homes in Detroit area.
we are looking to finance Detroit homes to get cash out and keep investing.
we are also looking for refinancing all or part of our loans to get a fixed rate with an interest only or cash out.
The value of 190 homes is 14.5 million and loan on it is 9.3 million.
The value on 20 homes is around 1.2 million and looking to get as much cash out to fix up the other homes. if you find a lender who is interested, I could send you a spread sheet.
These loans can be done as blanket loans up to 1-3 million each or one big blanket loan.
__________________ Greg Phillips Manager Fairfield Mortgage Company Web : Home Forums Blog |