Colorado Hard Money Deal - Close

790

1 deal

Colorado

The building is 121 Ruxton Avenue in Manitou Springs and is already being rented, and the income it is currently producing is $3600/month with one commercial space not being rented out until it is sold. The total income per month on the property is 4760/month. I am seeking either a loan that will cover the cost of the down payment of a traditional commercial loan ($90K) or a loan for the amount itself. I currently do not have a lot of liquid capital to invest but I am otherwise an excellent candidate for this loan. I simply don't have the capital for the down payment on a conventional loan which is why I am seeking out alternatives. I am an active duty Army Officer who is also a physician assistant who takes home $7500/mo and I have no children or other dependents. I have no doubt I can cover the costs of this mortgage and if I can use these renters In place as additional income I don’t know if that could help. I don’t know how creditors feel about it but I am essentially putting my military career and medical career as an ER PA up for collateral. My security clearance would be lost if I defaulted on a loan like this. And it will also affect my ability to apply for and continue to have a state license to practice medicine because it would show bad judgement, etc and my ability to practice medicine will also be affected subsequently. So I feel very strongly I will have no issue paying this loan if approved. I am a 16 year army career soldier who also is a mid level provider and in 4 years will also be receiving a pension that would cover the mortgage of this property as well. If there was some way to get myself approved for this loan I would be very thankful for the opportunity to buy this property. It is a rare historic building and will not come on the market again in my lifetime likely.