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What are my options to get a cash out on commercial property

I own a gas station,that is leased for $78,000 a year. It is paid off.The station is worth about $800,000.And I have $18,000 income from another source.Total income $96,000 a year. credit score 720.how can I get $150,000 loan or a cash out ,or commercial line of credit. by watfa3_706_446 from Hogansville, Georgia. Apr 1st 2013 Reply


Carlos Figueira (carlosfigueira)
#108 ranked lender in New Jersey - 198 contributions

Not sure how many commercial lenders on Lender411 in Georgia......you should qualify but unfortunetly we only finance New Jersey residential and commercial properties.

Apr 1st 2013
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Ken Burrows (mortgagesforamerica)
#19 ranked lender in Nevada - 572 contributions

We can help you however our min. loan amount is $250,000. If that is okay please contact me and I will send you our application. P: 888-320-7888, ken@mortgagesforamerica.org - Ken Burrows

Apr 1st 2013
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Charlie Sparks (CharlieSparks)
#9 ranked lender in New Mexico - 397 contributions

Good evening. My co. has a commercial division that lends nationwide. There is a good chance they may be able to help you. Contact me and I will put you in touch. Charlie Sparks, csparks@gencormortgage.com or see my profile page for a phone number. Thank you!

Apr 1st 2013
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Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#76 ranked lender in Florida - 2,240 contributions

You should definitely Qualify

Apr 2nd 2013
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Jericho Cherry (Jerichocherry)
#57 ranked lender in Virginia - 1,107 contributions

You should not have any problems qualifying. Need more information. Contact me at jcherry@loansimple.com

Apr 2nd 2013
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Peter Savino (855411LEND)
#100 ranked lender in New Jersey - 332 contributions

I can help you if you still need. 855 411 LEND Peter Savino

Apr 2nd 2013
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Julie Colangelo (JulieColangelo)
#867 ranked lender in California - 15 contributions

Traditional lending or hard money. If you are rate sensitive and have the time, go traditional. Make sure your books are in order and up to date. Be prepared for environmental reports etc. If time sensitive then hard money. In either scenario, you have a single use property. Do your due diligence prior to jumping through hoops. Find out how many gas station properties the lender has done. Good Luck!

Apr 2nd 2013
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Andrew Alfonso (CashCow)
#43 ranked lender in Florida - 271 contributions

You've got a chance. Not a big one. But its possible. Andrew

Apr 2nd 2013
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Lawrence Thorpe (CommercialRefi)
#107 ranked lender in New York - 14 contributions

Thanks

Jul 2nd 2013
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