This $470,000 refinance of a Warehouse located in San Angelo, TX, recently closed. The initial loan to the borrower was a cash-out refinance to improve the property. After the initial funds were depleted, the borrower made additional updates to his building plans and requested additional funds necessary to complete the project. With the proceeds of the new loan from Propel Real Estate Capital, the borrower paid off the initial loan to Propel and took an additional $200,000 cash out to complete the added improvements.
With flexible terms and a quick closing, the borrower easily leveraged their real estate equity to improve the condition of the property and their overall financial situation. This transaction allowed them to maximize their income potential and improved their monthly cash-flow on the property.