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I have 3 properties that are paid for. No bankruptcy. can I get a loan to buy a business? good credit rating.

Im looking for a little more than i have to purchase a Shell gas station/ Convenience store. I have a house and 2 condos that I owe nothing on. I have minimal outstanding debt. I don't currently have a high income but the business would be my future income. How can I get the money I need to buy this business> by hitman6943004850 from Clearwater, Florida. 26 days ago Reply


Rod Synovec (Rod Synovec)
#9 ranked lender in Florida - 2 contributions

You may be able to use your properties to generate cash for the purchase. You would need to use them as collateral and have 1st-position liens on them. A few questions:- Are they rental properties?- Are any of them your personal residence?- What is the value of each property?- How much do you need to purchase the gas station?

26 days ago
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The 3 properties are two rental condos worth 75k each. Yes appraisals. House with apartment. Worth 160. I have about 100 to spend and station is about 100. I don't want to spend everything I have and be cash broke.

26 days ago
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That does not include property. Oil co owns and you have store. Comm on gas. Leased.

26 days ago
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Rod Synovec (Rod Synovec)
#9 ranked lender in Florida - 2 contributions

One option would be to do a cash-out re-finance on the rental condos. Short-term funding (12 months, interest-only) would be the fastest way. Loan-to-value on cash out deals is limited to 50%-60% of value, so you would need use both condos. Our minimum loan size is $75,000. Fees and standard closing costs apply. No pre-payment penalty - you can payoff anytime within the 12 months.

25 days ago
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Todd Glassman (Todd Glassman)
#1 ranked lender in South Carolina - 110 contributions

We could help you cash out on the properties to put a down payment on the commercial property and we could also provide you a commercial loan after looking at your whole financial picture. Give John Crivea a call at 864-907-1089

25 days ago
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,727 contributions

There are loans available.. specifically, SBA loans.. you will need to contact a local loan officer and let him advise you on the necessary steps.. Remember, you are not looking for a mortgage.. your looking for a lender who offers SBA loans.. I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

25 days ago
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Why dont you speak to one of gas station consortuim groups, their is a pretroleum industry which includes gast station owners with their own resources and assistance, They will help you., they wont tell you but there is alot more involved than just getting a loan, I have a person you can speak to , his terrority is the middle of the US but Im sure he can get you to the right people.. you should start there not with mortgage people its completely different. 347 875 7506 Pete - petemotta212@gmail.com .. if i dont here from you good luck..

6 days ago
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