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Commercial Real Estate, Refinance, What's Closing Now

$1,300,000 – Cash-out Refi – SFR Portfolio

Brevard County, FL

This client had a very conservative relationship with debt. His whole life, he was taught that debt was “bad” – so when he purchased the 14 properties in his portfolio, he made sure that they were all paid off and cash-flow positive. However, this kept him paper rich and cash poor — which was making it difficult for him to compete when putting in offers for new properties.

Our challenge, first and foremost, was to change his understanding of what a mortgage can be. When treated properly, a mortgage is leverage – not purely debt. With the right guidance, a smart investor utilizes his leverage to consistently enhance his portfolio.

To keep it conservative, we advised him to do a 60% LTV loan — which is reasonably low leverage — to keep his payments low and manageable in case the market took a turn.

If you’re looking to expand your portfolio and need cash, contact our experts to see which options are available to meet your needs and future goals. Not all loans are created equal – and that’s why it’s essential that you partner with a lender who has your best interests at heart. There’s no risk or obligation to simply explore your options — so try our Loan Finder today to see your results in minutes, or give us a call at (888) 959-1648.

Refinance, What's Closing Now

$700,000 – Cash-out Refi & Purchase- SFR Portfolio

Vero Beach, FL

By word of mouth, this investor found an opportunity to add two more off-market properties to her rental portfolio. The issue? She needed some cash on hand for down payments and liquidity requirements.

To accomplish her goals in the most efficient way possible, we leveraged one of her properties into a 30-year, fixed-rate refinance with cash-out. This kept her monthly payments low and allowed her properties to still cash flow. She then used that cash to purchase two homes: one that she kept to add to her rental portfolio and one that she plans to fix and flip. When all is said and done, she will recoup her entire principal — plus own an additional rental property and make a profit!

Maintaining a positive cash flow when refinancing in this market can be tricky! The three best ways to do this are to:

  1. Put a little more money down (this means there’s less of a loan to pay off = lower monthly payments)
  2. Choose a Hybrid Loan – which affords a lower payment in the first 3,5,7 or 9 years (depending on your choice) while riding out the changes in interest rates
  3. Don’t over-leverage (try backing the leverage down by 5% and see how that affects the rate!)

In this market, smart investors are looking for off-market opportunities, fixer-uppers or distress properties. That is why you MUST be ready with cash – because you never know when the right opportunity will fall into your lap. If you’d like to explore your options to do a cash-out refinance on your investment portfolio, then try our Loan Finder tool or call us at (888) 959-1648 today. There’s no risk or obligation to explore your options!

Refinance, What's Closing Now

$945,000 – CRE Refi – Retail

Kissimmee, FL

This business owner originally purchased a business and its building with private/owner financing. After paying off and selling the business, he wanted to obtain a permanent loan to pay off the rest of the building. The building was pretty strong – a retail property with a single tenant, great location on a major highway… that is, until the pandemic hit. Since Kissimmee’s economy relies heavily on tourism that overflows from the Disney area, businesses were highly effected and commercial building values collapsed.

Even though the business was strong (pawn shop) all of the properties around them had reduced rents so they got a bad appraisal. Despite the lowball appraisal, we were able to close this “undesirable” business type* with relatively little cash down, with a 30-yr fixed rate on a great loan!

(Typically, “cash businesses” such as pawn shops are considered by government agencies and most banks to be undesirable because the cash flow isn’t easily traceable.)

Archive, Refinance, What's Closing Now

$1,846,000 – Conventional Refi – Dental Office

Brandon, FL

This 20-year practicing dentist thought that he finally found his dream office! The bank was all too happy to bury him in a 5-year senior mortgage, with a 5% per year prepayment penalty — and they promised to fund the necessary renovations to convert the office from a chiropractic office to a dental practice. Then one day, they said, “Whoops, we can’t do that.”

After a year of agonizing over his lost dream, he called ComCapFL on the advice of another dentist and good friend.

The bank made it tricky, but after great effort, petitioning the SBA and mountains of paperwork — we were able to CLOSE on a Refinance Loan with enough money for the building renovations and its new equipment. Thanks to our team of think-outside-the-box specialists, his dream practice can become a reality!

Archive, Commercial Real Estate, Refinance

$1,288,500 Conventional Cash-out Refi, “No Doc”

St. Lucie County, FL

This investor was post-divorce and needed a liquidity solution, fast… but the cards were stacked against him. Even though he had a full portfolio of SFR’s, the bank still couldn’t consider this loan. The income property was worth far more than the cash flow supported, which made the deal difficult. However, ComCapFL is used to finding solutions for situations like this, where the banks can’t.

With decent personal credit, our No-Documentation program provided the solution he needed to refinance AND get cash out with a 30-year, fixed rate loan. One “blanket” loan on multiple rental units = problem solved! Not only did the investor get his liquidity, but now his portfolio is more manageable than before the deal. That’s just another good solution!

Archive, Commercial Real Estate, Refinance

$895,300 – Blanket Refinance on 8 SFR’s

Stuart, FL

Blanket refinance loans are powerful and convenient because it can cover multiple single family residences (aka SFRs) in one loan. This investor had individual mortgages on 8 different SFRs and all of them were coming to term. To add fuel to the fire, not all of the properties were cash-flow positive — creating a big challenge in the investor’s ability to secure financing.

With our Alt-A (just miss) programs, we were able to close a blanket refinance loan based on only the property appraisals. The rate was then adjusted accordingly to account for the lender’s risk. This was a no-document loan — all that was required was appraised value of properties, good credit, and personal financial statement, not cash-flow. This proved to be another ComCapFL success in finding a solution for an unusual loan!

(And we financed this one twice!)

Archive, Commercial Real Estate, Refinance

$1,250,000 CRE Refinance – Gas Station/C-Store

West Palm Beach, FL

Financing a gas station is tricky: it’s part business, part commercial property. Typically, banks don’t like working with gas stations because of the business risks, hazards and the potential for land contamination. This particular gas station and convenience store was having a difficult time with the bank as its loans were coming due.

However, since this was a nice property, we were able to use the value of the land and buildings to secure a fixed-rate, prime conventional refinance. The gas station owner was very happy that he was able to bypass the bank and still get a cheaper, low-rate, long-term amortizing loan.

Archive, Commercial Real Estate, Refinance

$984,000 – CRE Cash-Out Blanket Refi – Multiple MF

Riviera Beach, FL

What happens when you try to do a cash-out refinance of a five-unit apartment, three quads and four duplexes? Usually, the bank scratches their head and says “no”.

We did a blanket, cash-out refinance loan on all these properties, consolidating them into one convenient payment. No documents, no proof of cash flow — only the property appraisals were needed to solidify this loan. Another commercial real estate investor problem solved by ComCapFL!

Archive, Refinance

$1,424,000 – Cash Out Refi – Multi-Family

Treasure Island, FL

The bank said “No” to this stabilized, luxury rental along the coast of the Gulf of Mexico because it is a seasonal rental. Most commercial lenders don’t like to finance seasonal rental properties due to the short-term lease and volatility. However, the property was a promising bet, with positive cash flow and a strong rental history.

Unlike the bank, we were able to say YES – refinancing the property at prime bank rates! If the investment makes sense, we’ll find a lender for it. Call us today at (888) 959-1648 to see how we can help you find financing for your property/business.

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