Recently Funded: $650,000, Long Term Cash-Out Refinance, Delaware
Our borrower came to us seeking a construction loan to build a new short-term rental on vacant land. While she had experience in managing STRs, she lacked building experience required for a construction loan.
However, during the interview process, we learned that she owned an Airbnb property free and clear. Because she possessed significant experience with short-term rentals, we were able to provide a $650,000 long-term refinance with cash out on the existing property to build the new STR at a rate of 6.5%.
This financing allowed her to fund the construction of her entire new home, without having to do a formal construction loan, making it easier and far less expensive.
When it comes to commercial real estate financing, it pays to go with the experts who offer a range of financing options and see the big picture. At Boulder Equity Partners LLC, we have a range of loan programs. Whether your best option is a long-term loan, bridge loan, or construction financing, we can find a program that fits your needs.
BEP now offers non-recourse loans for self-directed 401k/IRAs to purchase commercial real estate assets for your tax-deferred retirement portfolio.
BEP Quick Close Bridge Loans in the News Recently Funded: $2,500,000, Quick Close Bridge Loan, Eagle County, Colorado