Hi, I own a mix-use (2-residential and 1 commercial units) in the NYC area. The property is owned free and clear. Property is in fair condition but to compete with the gentrification I would like to rehab. I’m having a hard time finding a lender to do a refi with a cash out.
Can you help me with options?
That’s great to hear that you own a mixed-use property and you own it free and clear, that’s a big accomplishment! We have a helpful article that dives into the details of cash out refinances and I’ve included a link so you can take a look at it https://fitsmallbusiness.com/cash-out-refinance-guide/
Visio Lending is a reputable online lender we recommend in the article and their contact info is here https://app.fitsmallbusiness.com/goto/visio-lending-general/
If you still aren’t sure about refinancing a mixed use property, then check out our guide on mixed use loans which includes some commercial lenders who may also offer refinances. https://fitsmallbusiness.com/mixed-use-loans-financing/
All the best,
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