Mixed Use Refinance Options [Credit Unions & DSCR Loans]

Hey Beau, I bought a mixed-use property last year with a bridge loan. The property has 5 residential units and 2 commercial retail spaces. The property is now renovated and fully leased up. I have solid financials on the property, and I am a strong borrower. I am all in on the project at 3mm and I have a value today at around 4mm. I would like to get the best long-term debt and if possible, pull out some cash. What would you recommend for finding the best financing for this deal? The property is in Northern California.

Thanks.
Shelly

Timestamps
[01:05] Beau recommends to go to a credit union or regional national banks
[01:18] Credit union rates are far superior than most banks
[01:27] Source to a good credit union partner
[01:40] Short pre-payment penalty
[01:55] If the debt coverage ratio is in line, look at a 75% loan to value - DSCR loans are always an option if bank debt is not viable
[02:40] The longer the amortization, the less the monthly debt payment
[02:49] If you want a FAST answer, book a call at https://investorfinancingpodcast.com/rumble
[02:57] Certain ways to approach credit unions
[03:15] Build relationships with credit union partners to be able to get the deals done

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#creditunion #dscrloans #dscr

About Beau: Beau Eckstein is a real estate entrepreneur, TV personality, and commercial mortgage advisor, specializing in construction financing and multi-family lending.

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