Forgotten Your Password?

Need to Register?

Question Icon

Owe $25,000 in tax and penalties on a commercial property worth about $180,000. Have $140,000 equity. Best loan?

by Marie Mayeur from Folsom, Florida. Jun 24th 2015 Reply


William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,927 contributions

More info would be needed to properly advise you.. First, most commercial lenders wont do loans below $100K, so we need to know what you're trying to borrow.. Also, what type of commercial property do you have? Strip mall? commercial rental? Industrial? Manufacturing facility? Laundry/dry cleaners? Gas station? etc, etc, etc.. each one of these property types can have issues, so this isn't something you can just click the mouse a few times and get an answer.. you're going to have to talk directly to a commercial loan officer so he can get all the details of your scenario to help.. Try going to scotsmanguide.com.. they are a great source for commercial lending. You can put in your loan scenario and it will give you a list of lenders willing to do your loan.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Jun 25th 2015
1
0
Robert Hanke (rjhjr007@gmail.com)
#270 ranked lender in Florida - 7 contributions

Good Evening Marie,Based off the equity in the property, this sounds like something we can assist you with. Please contact me directly to discuss the specifics of your loan request.Thank you,R.J. Hanke- NMLS #1134947Innovative Mortgage Servicescell 386-717-0253rj@innovative.mortgage

Jun 24th 2015
0
0
David Ortega (DavidOrtega)
#55 ranked lender in Minnesota - 225 contributions

Hi Marie, your best bet may be to look for a hard money/portfolio lender. Possibly even a private lender. $25,000 in taxes and penalties is going to trip up a lot of commercial lenders. While they operate more like a portfolio lender, they are still strict.

Jun 25th 2015
0
0
Subscribe to our news feed.