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19 Replies Last post: Aug 4, 2008 8:01 PM by WarrenD

Need a loan to expand my business

Jun 1, 2008 1:27 PM

Click to view BIZ2008's profile Start-up BIZ2008 1 posts since
Jun 1, 2008
Hi everybody
I own a small real estate company, which owns a duplex. This property is fully paid off and rented out at $1100 a mouth. Prudently, i think the property is worth about $45,000. I need about $100.000 to help me buy more properties. I intend to pay the loan in 5 years or less from the rents. thank you
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Click to view MRFINANCE's profile Mogul MRFINANCE 104 posts since
May 11, 2008
1. Re: Need a loan to expand my business Jun 1, 2008 3:28 PM
in response to: BIZ2008
Hi!

You could probably get a refinance or home equity loan up tp 75 to 90% of the appraised value of the property. But to really be able to purchase mamy more properties you need to develop PRIVATE investors. Offer them 12% on their money. Hopefully the rents will cover the interest and you will make much more when you sell or refinance.

Joe

Richton Funding

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Click to view LUCKIEST's profile SCORE LUCKIEST 7,939 posts since
Aug 6, 2007
2. Re: Need a loan to expand my business Jun 1, 2008 5:15 PM
in response to: BIZ2008
MANAGEMENT SOLUTIONS IS NOW OFFERING START UP BUSINESSES LINES OF
CREDIT TO $350,000 NO DOC / STATED INCOME
FULL DOC TO $10,000,000
CALL MARK A. DIPRETE FOR DETAILS 401-942-3607
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