4 Unit cash out refi in Chicago, IL for out of state borrower
This borrower actually came to us a while ago and for some reason decided not to work with us at first. Then he re-engaged and decided it was good to work with us on this cash out project on his 4 unit on W Pryor.
This was a simple cash out refi that took almost no time to complete. His Hard Money Loan had a bit extra work due to the property being in a trust, but we worked through it and when it was all said and done, he got his capital to go find more properties to acquire.
The property was valued at 216,000.00 so the loan of $110,000.00 was a no brainer. When there is enough equity in the property loans become easy to execute. Even then, if the equity is challenged and there area enough other factors that can help we can still make a Hard Money Loan work. Don’t shy from applying just because you’re not sure if we can do the Hard Money Loan. Give it a shot, apply today.
We do work with our of state investors on Hard Money Loans. It’s not hard to do, we have the investors that are willing to lend as long as the properties have enough equity and the deal makes sense. Do you have a property you’d like to invest in? You can apply with us for your Hard Money Loan by clicking here!