Shop Commercial Mortgage’s investor network is looking to supply loans to owners of free and clear commercial property in Florida. The property must be zoned commercial, although our investors will also consider rural properties on a case-by-case basis. Our goal is to offer loans to landowners who need cash available from the equity in their land.
There are several types of loans available to landowners in Florida. The typical maximum LTV (loan-to-value) acceptable to our investors is 55% with some exceptions. Here is a list of the types of properties we are looking for:
"I just closed a commercial loan in St. Petersburg. A 16 unit apartment complex for $100,000 at 11.5% interest. It was a free and clear equity driven low documentation refi with no appraisal so it closed fast!"
Mikle / Broker