Page 20 - How To Refi Cashout Your Commercial Property Before The Bank Says...
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Chapter 6
The Alternative Solution
Let’s say tomorrow someone off the street makes you an offer to take over your
business and pay you a kickback monthly but that person never worked in the
business, never struggled or had any success in the business, would you take that
deal.
If you value your time and money you wouldn’t.
As a business owner and investor you know your business and process to the” T”
you know how to solve problems for your clients, your investors, and most of all
you know how to manage the losses that come with the business so you can bounce
back fast. In essence you’re the expert.
For commercial mortgage loans their are not many experts and sources that can do
commercial loans with flexible loan terms to get your deal closed. Especially
when it comes to refi-cashouts, but there is an alternative that can.
That alternative is an alternative lending specialist.
Alternative lenders specialize in commercial mortgage loans as a non-bank lender.
By being a non-bank lender alternative lenders are able to lend and provide flexible
loan terms that traditional sources fail to provide.
Many people when they first hear of an alternative lending source automatically
think hard money, high rates and fees. Although hard money is an option for short
term value add scenarios, they are not ideal for commercial investment properties
for refi-cash out loans because their LTV’s are low, loan terms are to short, and
fees are high.
Another common misconception about alternative lenders is that it is a private
money loan that you will get from someone’s retirement account. Private money