Wisconsin Hard Money Deal - Close

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Wisconsin

I need cash flow. I need money for repairs and remodel. I need money to pay off $27K in back taxes. There is no bank loan or mortgage. I own the property outright. It’s a commercially zoned property in Twin Lakes, WI. It’s mixed use and has 2 studio apartments and a large business front containing three rooms for offices and a large conference room. The conference room has one wall that is a mirror and was previously used as a yoga studio/ meditation suite. It is valued between $160-200K as-is. ARV of about $250-280K. There are large garages in the back for storage rentals or other business/residential rental use. It has a parking lot for about 10 cars including a 5 car parking lot in the front designed for business customers and a 4 car parking lot in the back originally designed for the residential portion of the property. The property is not in tax sale but is in danger of tax default in next 6 months. I’m looking for a 6 month to two year loan duration.

I do not occupy the property. I have just evicted people from the upper. Currently the lower is being rented out for $1,000 a month. The garages are being rented out for $500 a month. I can rent the upper out as a 3/4 bedroom, 2 bath condo for $1,500 a month.